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Gold Conditions Remain Bullish Despite Monday Dip

COMMODITIES

Trend conditions in WTI futures remain bearish and this week’s move lower reinforces this theme. $74.96, the Sep 28 low, has been cleared. This confirms a resumption of the downtrend and sights are on the $70.00 psychological handle. Moving average studies are in a bear mode condition, highlighting the current trend direction. Key resistance is at $82.61, the 50-day EMA. Trend conditions in Gold remain bullish and Monday’s retracement - for now - appears to be a correction. A fresh trend high last week reinforced a bullish theme and price has breached $1786.5, the Nov 15 high and a bull trigger, confirming a resumption of the uptrend. $1800.0 has also been cleared and sights are on resistance at $1807.9, Aug 10 high that has been pierced. Key trend support is at $1729.0, the Nov 23 low.


  • WTI Crude up $0.79 or +1.1% at $72.43
  • Natural Gas up $0.06 or +1.08% at $5.773
  • Gold spot down $3.4 or -0.19% at $1784.92
  • Copper down $0.15 or -0.04% at $386.8
  • Silver down $0.03 or -0.11% at $22.7768
  • Platinum up $1.03 or +0.1% at $1013.27
Energy BulletsCommodities
Energy BulletsCommodities

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