Commodity Prices

Gold •646 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	2,065.20	-46.90	-2.22%
WTI Crude •7 hours	95.81	-2.06	-2.10%
Gasoline •7 hours	3.016	+0.015	+0.51%
Ethanol •646 days	2.161	+0.000	+0.00%
Silver •646 days	30.82	+1.16	+3.92%

Silver • 646 days	30.82	+1.16	+3.92%
Copper • 646 days	4.530	+0.111	+2.51%
Brent Crude • 6 hours	95.20	-0.72	-0.75%
Natural Gas • 7 hours	2.652	-0.018	-0.67%
Heating Oil • 7 hours	3.745	-0.192	-4.87%

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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.