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Price Signal Summary - Bear Threat In Gold Remains present


On the commodity front, the recent strong reversal in Gold signals the end of the recovery between Sep 28 - Oct 4 and note that price has moved below the trendline resistance drawn from the Mar 8 high. The focus is on $1615.0, the Sep 28 low.
In the Oil space, the reversal higher in WTI futures on Thursday undermines the bearish theme that developed earlier this week. A key short-term support has been defined at $85.56, yesterday’s low, where a break would resume bearish activity. A continuation higher would expose resistance at $93.64, the Oct 10 high.

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