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COMMODITIES: Gold Slippage Undermines Bullish Theme

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Gold traded sharply lower on Dec 18. That move down undermines a recent bullish theme. A resumption of weakness would signal scope for an extension towards the key support at $2536.9, the Nov 14 low. Moving average studies are in a bull mode position. A bearish threat in WTI futures remains present and recent gains are - for now - considered corrective. A resumption of the bear cycle would open $65.57, the Oct 1 low, and $63.73, the Sep 10 low and key support.

  • WTI Crude down $0.29 or -0.41% at $70.28
  • Natural Gas up $0.32 or +9.31% at $3.706
  • Gold spot down $6.44 or -0.25% at $2613.09
  • Copper down $0.95 or -0.23% at $411.5
  • Silver down $0.01 or -0.05% at $29.342
  • Platinum down $3.07 or -0.33% at $921.83
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Gold traded sharply lower on Dec 18. That move down undermines a recent bullish theme. A resumption of weakness would signal scope for an extension towards the key support at $2536.9, the Nov 14 low. Moving average studies are in a bull mode position. A bearish threat in WTI futures remains present and recent gains are - for now - considered corrective. A resumption of the bear cycle would open $65.57, the Oct 1 low, and $63.73, the Sep 10 low and key support.

  • WTI Crude down $0.29 or -0.41% at $70.28
  • Natural Gas up $0.32 or +9.31% at $3.706
  • Gold spot down $6.44 or -0.25% at $2613.09
  • Copper down $0.95 or -0.23% at $411.5
  • Silver down $0.01 or -0.05% at $29.342
  • Platinum down $3.07 or -0.33% at $921.83