Commodity Prices

Gold •827 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,642.00	-7.80	-0.47%
WTI Crude •54 mins	91.49	+3.21	+3.64%
Gasoline •54 mins	3.316	+0.082	+2.53%
Ethanol •827 days	2.161	+0.000	+0.00%
Silver •827 days	30.82	+1.16	+3.92%

Silver • 827 days	30.82	+1.16	+3.92%
Copper • 827 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	104.15	+3.95	+3.94%
Natural Gas • 54 mins	3.168	-0.035	-1.09%
Heating Oil • 54 mins	4.883	+0.260	+5.63%

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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.