[Video] WTI Closes Below $70, Silver Fails to Break Key Resistance
Matt Simpson August 5, 2021 2:46 AM
After three-day of selling, WTI shows the potential for a bounce yet it may struggle to rally back above $70 in the current environment.
Alongside WTI we also look at spot silver prices, as a bearish hammer has formed at a key resistance cluster. Take note that the US dollar and tomorrow’s Nonfarm payroll report will likely make their mark on silver and WTI, one way or another. We then look at NZD/JPY as it shows the potential to break higher, should appetite for risk allow.
S&P 500: Market Internals
S&P 500: 4402.66 (-0.46%), 04 August 2021
- Communication Services (0.2339%) was the strongest sector and Energy (-2.9%) was the weakest
- 9 out of the 11 sectors traded lower on the S&P 500
- 121 (23.96%) stocks advanced and 383 (75.84%) declined
- 81.58% of stocks closed above their 200-day average
- 63.37% of stocks closed above their 50-day average
- 54.85% of stocks closed above their 20-day average
- + 10.7% - Paycom Software Inc (PAYC.N)
- + 8.63% - DaVita Inc (DVA.N)
- + 8.42% - Moderna Inc (MRNA.OQ)
- -8.92% - General Motors Co (GM.N)
- -8.86% - Lumen Technologies Inc (LUMN.N)
- -8.84% - Unum Group (UNM.N)
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