COMMODITIES: WTI MA Studies Remain Bullish, Despite Recent Pullback

A bull cycle in WTI futures remains intact and the latest pullback appears corrective - for now. Note that MA studies are in a bull-mode position and this highlights a dominant uptrend. However,this week's move down has resulted in a breach of the 20-day EMA, at $91.28. The next key support to watch lies at $85.71, the 50-day EMA. A clear break of it would undermine the bull theme. Key resistance and the bull trigger is $101.69, the Sep 15 high. Recent gains in Gold resulted in a break of both the 20- and 50-day EMAs. This is potentially an early reversal signal and if correct, an indication that the recent corrective bear cycle may be over. A resumption of gains would open $4411.8 and $4466.2, Fibonacci retracement points. Key short-term support has been defined at $4235.6, the Sep 16 low. Clearance of this level would instead confirm a resumption of the recent bear leg. * WTI Crude down $0.49 or -0.54% at $90.04 * Natural Gas up $0.05 or +1.55% at $3.011 * Gold spot down $41.81 or -0.96% at $4320.38 * Copper down $0.4 or -0.06% at $683.2 * Silver down $1.63 or -2.44% at $65.491 * Platinum down $43.77 or -2.38% at $1793.84