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WTI crude oil, under pressure for the past couple of weeks pops higher after running sell stops below $72. The rebound being supported by news the US secretary of state will modify or rescind existing sanctions waivers and cooperate with Treasury to implement a campaign "aimed at driving Iran's oil exports to zero"

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Gold continues higher within its well-established channel, reaching a fresh record high at $2837. Interesting to note the spread between XAUUSD and GCJ5 continues to normalise with cash chasing higher towards the futures price. Win-win.

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COMEX Gold future (Feb 2025) is once again challenging last years record high at $2801.80, supported by a softer dollar, especially against the Japanese yen and US 10-year Treasury notes testing key support around 4.5%. (NOTE: the April 2025 future has already broken higher)

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EURUSD firmly rejected the attempt into the 1.0500+ area, setting up solid resistance with the three-candle evening star formation, but not yet fully posting a rejection of this rally wave unless it can work down through the 1.0350-1.0325 zone. Some tariff news will be needed for the pair to challenge the lows and set sights on parity in coming weeks, otherwise we...

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The COMEX Silver futures (March 2025) is breaking higher amid an ongoing squeeze in New York on fears over import tariffs on silver potentially forcing short sellers to cover positions. Next level of resistance being the 50% retracement of the October to December correction at $32.10

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Corn futures for March-25 trades near the key $5/bu area, setting a 15-month high, on worries over dry Argentine weather and lower US carryout at the end of the current crop year. The Oceanic Nino Index points to an incoming La Nina which normally brings persistent dryness to Argentina and southern Brazil, potentially worsening crop conditions, with expectations...