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Price Signal Summary - Gold Remains Below Resistance At The 50-day EMA

OUTLOOK
  • On the commodity front, Gold remains in a downtrend and recent gains are considered corrective. This follows the reversal from $1729.5, the Oct 4 high. The move lower signals the end of the bull phase between Sep 28 - Oct 4. A resumption of weakness would refocus attention on key support and the bear trigger at $1615.0, the Sep 28 low. Firm resistance is at $1689.1, the 50-day EMA.
  • In the Oil space, the WTI futures outlook has improved for bulls following yesterday’s gains. The contract has defined a key short-term support at $81.30, Oct 18 low and sights are on resistance at $88.66, Oct 12 high. A break of this hurdle would open $92.34, the Oct 10 high and a key resistance. On the downside, a move through support at $81.30 is required to undermine the bull theme.
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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