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Price Signal Summary - Gold Remains Vulnerable

OUTLOOK
  • On the commodity front, Gold remains bearish and the yellow metal has traded lower today. This marks an extension of the reversal from $1729.5, the Oct 4 high and signals scope for weakness towards $1615.0, the Sep 28 low.
  • In the Oil space, WTI futures have recovered from Tuesday’s low of $82.09. The outlook is bearish, despite the latest move higher. A resumption of weakness would open $80.35, 76.4% of the Sep 26 - Oct 10 rally. Resistance is at $90.07, the Oct 12 high.

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