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Gold Remains In Clear Downtrend

COMMODITIES
Gold remains in a clear downtrend and yesterday’s sharp sell-off reinforces this theme and confirms a resumption of the downtrend that started early March - price has cleared support at $1681.0, the Jul 21 low. Attention is on $1640.9 next, the Aug 8 2020 low. In the oil space, the WTI futures outlook is bearish and yesterday’s move lower reinforces this theme. The recent break of support at $85.37, the Aug 16 low, confirmed a resumption of the downtrend that started Jun 8. The focus is on $79.83 next, the Feb 18 low. Firm resistance is at $91.45, the 50-day EMA.
  • WTI Crude up $0.19 or +0.22% at $84.48
  • Natural Gas down $0.23 or -2.78% at $8.098
  • Gold spot down $2.71 or -0.16% at $1656.26
  • Copper down $4.45 or -1.28% at $344
  • Silver down $0.23 or -1.2% at $18.8407
  • Platinum down $13.9 or -1.53% at $891.11
Energy BulletsCommodities
Energy BulletsCommodities

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