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Price Signal Summary - Gold Bulls Remain In The Driver's Seat

OUTLOOK
  • On the commodity front, the Gold outlook remains bullish following last week’s strong rally. The move higher resulted in a break of $1729.5, the Oct 4 high. This strengthens the current positive theme and paves the way for a climb towards the $1800.0 handle and resistance at $1807.9, the Aug 10 high. On the downside, initial firm support is seen at $1702.3, the Nov 9 low.
  • In the Oil space, the pullback in WTI futures early last week undermines a recent bullish theme and suggests scope for a continuation lower near-term, despite recent gains. A bearish shooting star candle (Nov 7) was followed by a bearish engulfing candle the following day. These highlight a short-term reversal. A continuation lower would open $81.30, Oct 18 low. On the upside, key short-term resistance is at $93.74, Nov 7 high. A break would be bullish.
Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets
Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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