Commodity Prices

Gold •614 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,163.90	+22.20	+1.04%
WTI Crude •11 mins	94.34	+3.44	+3.78%
Gasoline •11 mins	2.787	+0.041	+1.48%
Ethanol •614 days	2.161	+0.000	+0.00%
Silver •614 days	30.82	+1.16	+3.92%

Silver • 614 days	30.82	+1.16	+3.92%
Copper • 614 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	98.57	+5.88	+6.34%
Natural Gas • 11 mins	3.111	-0.075	-2.35%
Heating Oil • 11 mins	3.565	-0.057	-1.57%

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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.