Recent Price Activity in Gold Defines Key Resistance at $2065.5

Recent gains in WTI futures still appear corrective at these levels and key short-term resistance at $79.09, the Jan 29 high, remains intact. Clearance of this level would be a bullish development. On the downside, support to watch lies at $71.49, the Feb 5 low. A break of this level would reinstate the recent bearish theme and pave the way for a move towards $69.79, the Jan 3 low. Recent price activity in Gold has defined key resistance at $2065.5, the Feb 1 high, and key support at $1984.3, the Feb 14 low. Both levels represent important short-term directional triggers. A clear break of the Feb 1 high would highlight a short-term reversal and open $2088.5, the Dec 28 high. For bears, clearance of $1984.3 would expose an important support and bear trigger at $1973.2, the Dec 13 low.

• WTI Crude down $0.43 or -0.56% at $76.08
• Natural Gas up $0.07 or +4.05% at $1.669
• Gold spot down $1.96 or -0.1% at $2033.87
• Copper down $4.1 or -1.05% at $385.9
• Silver down $0.25 or -1.09% at $22.7109
• Platinum down $9.33 or -1.03% at $893.26