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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

WTI slips on large US stock build while silver price falls and Chicago wheat stays range bound

Source: Bloomberg

​​​WTI declines on large US stock build ​ ​

Front month WTI futures have once again been rejected by their mid-November to February 78.87 to 79.62 resistance zone amid a large US stock build. ​The oil price slid back to the 200-day simple moving average (SMA) at 77.73 around which it is expected to oscillate over the coming days. ​While this week’s low at 75.77 underpins, the medium-term uptrend will remain intact, though. ​Minor support ahead of this level sits at the 21 February 76.31 low.

Source: ProRealTime

​Silver price remains under pressure

​Spot silver’s descent from its $23.50 per troy ounce February peak is taking it back to its January and February lows at $21.94 to $21.93. ​On the way down lies the 8 February low at $22.15. ​Minor resistance above the February downtrend line at $22.67 sits at the 4 January low at $22.69. ​

Source: ProRealTime

​Chicago Wheat prices still hover above major support ​

Chicago wheat front month futures continue to hold above their key 557 to 552 September and November lows which offered support in February. ​Further sideways trading above this key support zone and below last week’s 594 high remains at hand. Above it the December-to-February downtrend line can be spotted at 600. ​Support above the 557 to 552 area lies at last week’s 561 low. ​

Source: ProRealTime

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