There are no big moves on commodities markets today with investors waiting for new market drivers. After the recent rally, WTI is finding a temporary equilibrium between $58 and $58.50. Despite testing $58.90 yesterday, oil does not seem to have sufficient strength for further rallies, for the time being at least. The main trend remains positive however and any news of additional stimulus coming from central banks could trigger a new move higher.
Gold is also steady and has so far been unable to climb above $1,850 with traders in a wait and see scenario. However, just like oil, the long-term outlook remains bullish for the yellow metal.
