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Price Signal Summary - Gold Trend Needle Points North

OUTLOOK
  • On the commodity front, the Gold traded higher again Tuesday and conditions remain bullish. Last week’s rally resulted in the break of a number of important resistance points. The yellow metal has cleared $1729.5, the Oct 4 high. This strengthens the current bullish theme and opens the $1800.0 handle and a key resistance at $1807.9, the Aug 10 high.
  • In the Oil space, WTI futures appear vulnerable following last week’s bearish price activity and this week’s move lower. A bearish shooting star candle on Nov 7 was followed by a bearish engulfing candle the following day and these patterns highlighted an early reversal signal. A continuation lower would open $81.30, the Oct 18 low and a key support. On the upside, key short-term resistance is at $93.74, Nov 7 high. Initial resistance is at $90.10, the Nov 11 high.
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Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesEquitiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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