Today’s technical view of Oil, Gold, Platinum, Copper, Iron Ore and Baltic Dry Index.

US EIA Weekly Crude Stocks (w/e) -5.731M vs. Exp. -4.242M (Prev. -2.747M), crude production -11.3% to 8.406mln bpd
– EIA Weekly Distilate stocks (w/e 13 Oct) 0.528M vs. Exp -1.453M (Prev. -1.480M)
– EIA Weekly Crude Crushing Stocks (w/e 13 Oct) 0.202M (Prev. 1.322M)
– EIA Weekly Gasoline Stocks (w/e 13 Oct) 0.908M vs. Exp. 0.256M (Prev. 2.490M)
– EIA Weekly Refining Utilisation (w/e 13 Oct) -4.7% vs. Exp. 0.1% (Prev. 1.1%)

Baltic Dry Index
– BCI (Cape index) 3134 +55
– BPI (Panamax index) 1646 -5
– BSI (Supramax index) 1105 +11



Price has been trying to break resistance at MM3 all week. Support still eyed at 51.00 with weekly target at WS1. 50.50 is just above MPP.

Gold H4

Price is approaching the weekly profit taking zone with bids coming in at MM2 earlier today though no higher highs at time of writing this post.

Platinum H4

In yesterday's post we observed support holding at WM2 though noted that price had not broken above WPP. WPP held as resistance and price subsequently moved lower. Target of WM1 confluence with MM2. This would make for a double bottom on daily.

Copper H4

As per our previous analysis, price came off the weekly and monthly target earlier in the week and is expected to move down to WPP by the end of the week as per pivot theory. Trend is bullish.

Iron Ore Daily

Trend is bearish though price has stopped making lower lows. Found support at 432.80.

Daily Chart For Cape/Panamax/Supra TC AVERAGE Values


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