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Price Signal Summary - Uptrend In Gold Remains Intact

OUTLOOK
  • On the commodity front, trend conditions in {O4} Gold remain bullish despite last Thursday’s sell-off. Pullbacks are considered corrective and key short-term support to watch is $1765.9, Dec 5 low. The yellow metal breached $1810.0 last week, the Dec 5 high, to resume the uptrend. This opens $1842.7, the 50.0% retracement of the Mar - Sep bear leg.
  • In the Oil space, recent gains in WTI futures have highlighted a bullish corrective cycle and last week this resulted in a test of the 20-day EMA, at $76.89. A clear break of this hurdle would signal scope for an extension towards $80.35, the 50-day EMA. On the downside, the bear trigger lies at $70.08, the Dec 9 low.
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Metals Technical AnalysisMetals bulletHomepagemarkets-real-timeCommoditiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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