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• An impressive $300.00 gain in Gold since New Year Eve, the precious metal is seeing further upside momentum, Safer Haven flow has been supportive on Tariffs Risks.
• Silver is now also getting dragged higher, although it is still short of Friday's printed high at 32.6520, which was also its highest print since early November.
• As we noted during the European Open, next resistance in Gold will be seen at $2917.5 - 1.764 proj of the Nov 14 - Dec 12 - 19 price swing.

Recent weakness in WTI futures marks an extension of the current corrective cycle. The 20-day EMA has been breached and attention is on support around the 50-day EMA, at $72.20. Price has through the average,, a clear break of it would suggest scope for a deeper retracement. This would open $68.05, the Dec 20 ‘24 low. On the upside, a clear reversal higher would refocus attention on $79.48, the Apr 12 ‘24 high and a key resistance. A bull cycle in Gold remains in play and the yellow metal has again traded to a fresh cycle high, today. The continued appreciation once again confirms a resumption of the uptrend and maintains the bullish price sequence of higher highs and higher lows. Moving average studies are in a bull mode position too, highlighting a dominant uptrend. Sights are on the $2900.0 handle next. The first key support to watch is $2776.3, the 20-day EMA.

• WTI Crude up $0.73 or +1.03% at $71.71
• Natural Gas up $0.1 or +2.99% at $3.409
• Gold spot up $42.57 or +1.49% at $2903.46
• Copper up $1.7 or +0.37% at $460.7
• Silver up $0.48 or +1.52% at $32.3018
• Platinum up $8.56 or +0.87% at $987.16

Eurostoxx 50 futures are holding on to their recent gains and a bull cycle remains in play. Last week’s gains marked  a resumption of the uptrend that started on Nov 21 ‘24. Moving average studies are in a bull mode set-up too, highlighting a dominant uptrend. The focus is on 5381.13 next, a Fibonacci projection. Initial firm support to watch lies at 5211.11, the 20-day EMA. The 50-day EMA is at 5094.95. The Feb 3 initial sell-off in the S&P E-Minis contract and the breach of support at 5948.00, Jan 27 low, continues to highlight a possible S/T reversal threat. If correct, it suggests that the latest bounce is a correction. A resumption of weakness would open 5892.37, a Fibonacci retracement point. On the upside, a stronger rally would expose key resistance at 6178.75, the Dec 6 ‘24 high. Clearance of this hurdle would resume the primary uptrend.

• Japan's NIKKEI closed higher by 14.15 pts or +0.04% at 38801.17 and the TOPIX ended 4.22 pts lower or -0.15% at 2733.01.
• Elsewhere, in China the SHANGHAI closed higher by 18.503 pts or +0.56% at 3322.17 and the HANG SENG ended 388.44 pts higher or +1.84% at 21521.98.
• Across Europe, Germany's DAX trades higher by 0.88 pts or +0% at 21787.71, FTSE 100 higher by 28.37 pts or +0.33% at 8728.8, CAC 40 down 0.6 pts or -0.01% at 7972.43 and Euro Stoxx 50 up 7.48 pts or +0.14% at 5332.88.
• Dow Jones mini up 117 pts or +0.26% at 44538, S&P 500 mini up 21.5 pts or +0.36% at 6071, NASDAQ mini up 117.25 pts or +0.54% at 21708.