Commodity Prices

Gold •15 mins	2,331.90	-10.20	-0.44%
Platinum •15 mins	912.10	-10.70	-1.16%
WTI Crude •10 mins	82.88	-0.48	-0.58%
Gasoline •10 mins	2.720	-0.005	-0.18%
Ethanol •17 hours	2.161	+0.000	+0.00%
Silver •15 mins	27.19	-0.18	-0.65%

Silver • 15 mins	27.19	-0.18	-0.65%
Copper • 15 mins	4.499	+0.039	+0.86%
Brent Crude • 10 mins	88.06	-0.36	-0.41%
Natural Gas • 10 mins	1.724	-0.088	-4.86%
Heating Oil • 10 mins	2.555	-0.024	-0.95%

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Daily Technical Report

By - Oct 31, 2011, 7:46 AM CDT

Gold: Risk of a larger decline beneath $1530.

Gold remains bearish after its dramatic 20% price fall, which helped confirm the extreme overbought conditions (marked by DeMark™ indicators). This also timed a key cycle peak, ahead of that all-important $2000 glass-ceiling.

Most concerning is that speculative (net long) flows have recently breached a key downside level which may threaten over 2 years of sizeable long gold positions.