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Price Signal Summary - Gold Trend Condition Remains Bullish

OUTLOOK
  • On the commodity front, Gold remains in an uptrend and last week’s gains reinforce this condition. Last Thursday's rally resulted in a break of $1786.5, the Nov 15 high and a bull trigger, confirming a resumption of the uptrend. $1800.0 has also been cleared and sights are on resistance at $1807.9, the Aug 10 high. This level has been pierced, a clear break would be bullish. Key trend support has been defined at $1729.0, the Nov 23 low.
  • In the Oil space, WTI futures are holding on to the bulk of last week’s gains. The latest recovery is considered corrective - for now. A resumption of weakness would refocus attention on $73.60, the Nov 28 low, where a break would strengthen the bearish condition. Key resistance is at $83.66, the 50-day EMA. A clear break of this average would alter the picture.
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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