Morning Report

The commodity is trading at a sensitive larea, very close to the main ascending support for the bullish trend however its fails to confirm stability above the trend line. Meanwhile, trading didn't settle below the support of the possible double top formation. Stochastic has crossed over negatively, while the RSI is attempting to cross above 50 again. These technical factors force us to remain neutral waiting for a confirmation of a breach above 107.60, or below 106.45 level.

The trading range for the day is among the major support at 103.90 and the major resistance at 109.80.

The short-term trend is to the upside with steady daily closing above 99.60 targeting 116.50.

**New York Candlesticks**

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