Commodity Prices

Gold •174 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	963.80	+12.30	+1.29%
WTI Crude •10 mins	70.03	+0.79	+1.14%
Gasoline •10 mins	1.966	+0.027	+1.41%
Ethanol •174 days	2.161	+0.000	+0.00%
Silver •174 days	30.82	+1.16	+3.92%

Silver • 174 days	30.82	+1.16	+3.92%
Copper • 174 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	73.50	+0.87	+1.20%
Natural Gas • 10 mins	3.920	+0.264	+7.22%
Heating Oil • 10 mins	2.225	-0.001	-0.06%

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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.