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M/T Trend Still Bullish for Gold

COMMODITIES

The medium-term trend structure in Gold remains bullish and this is reinforced by moving average studies that are in a bull-mode position. Near-term, a continued push higher would refocus attention on $2431.50, the Apr 12 high and bull trigger. A bearish theme in WTI futures remains intact and the contract continues to trade closer to its recent lows. Price has recently breached the 50-day EMA, strengthening a short-term bearish set-up that highlights potential for a deeper correction.

  • WTI Crude up $0.26 or +0.33% at $78.88
  • Natural Gas down $0.01 or -0.37% at $2.408
  • Gold spot up $1.14 or +0.05% at $2388.83
  • Copper up $2.05 or +0.42% at $494.3
  • Silver down $0.08 or -0.27% at $29.6182
  • Platinum down $0.48 or -0.04% at $1069.14
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