Commodity Analysis
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Gold (XAUUSD) Consolidates in Range, Uptrend Remains Intact
The precious metal Gold, represented by the XAU/USD pair, remains in an uptrend that commenced from the 1810 level. The recent pullback from the 2431 high is likely a consolidation phase within this broader uptrend. Over the next several weeks, the XAU/USD is expected to trade within a range, oscillating between the 2200 and 2431…
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Crude Oil (WTI) Breaks Support, Downside Risks Intensify
The West Texas Intermediate (WTI) crude oil futures contract has witnessed a significant bearish development, breaking below the bottom of the rising price channel on the daily chart. This breakdown suggests that the upside move from the $67.95 level has likely completed at the $87.07 high. With this bearish signal, further declines in WTI could…
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Crude Oil (WTI) at a Crucial Juncture, Eyes $90 Target
The West Texas Intermediate (WTI) crude oil futures contract is currently facing a critical support level, represented by the bottom of a rising price channel on the daily chart. This channel has been a significant guiding force for the recent uptrend, which commenced from the $67.95 level. As long as the price respects the channel’s…