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Price Signal Summary - Bearish Extension In Gold

OUTLOOK
  • On the commodity front, Gold remains bearish and the yellow metal is trading lower today. This marks an extension of the reversal from $1729.5, the Oct 4 high and signal scope for weakness towards $1615.0, the Sep 28 low.
  • In the Oil space, WTI futures traded lower Tuesday. The contract remains vulnerable and scope is seen for weakness towards $80.35, the 76.4% retracement of the Sep 26 - Oct 10 rally. Further out, an extension would open $76.25, the Sep 26 low.

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