Commodity Prices

Gold •401 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,339.60	-14.60	-1.08%
WTI Crude •18 hours	63.88	+0.00	+0.00%
Gasoline •18 hours	2.086	+0.009	+0.41%
Ethanol •401 days	2.161	+0.000	+0.00%
Silver •401 days	30.82	+1.16	+3.92%

Silver • 401 days	30.82	+1.16	+3.92%
Copper • 401 days	4.530	+0.111	+2.51%
Brent Crude • 17 hours	66.59	+0.16	+0.24%
Natural Gas • 18 hours	2.990	-0.077	-2.51%
Heating Oil • 18 hours	2.279	+0.013	+0.55%

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Gold: Fading Near the Resistance at 1420

By - Jun 05, 2013, 5:10 AM CDT

Gold may have completed a short-term rebound following the rejection at 1422 seen last Friday. In fact the daily structure, present since 1488 (03/05/2013 high), has the appearance of a bearish flag/pennant. With this in mind, we anticipate further weakness to retest the recent 1338 low. An hourly support is at 1385.

In the medium-term, gold has confirmed a weakening bias by breaking to the downside out of its long-term horizontal range defined by the support at 1523 (29/12/2011 low) and the resistance at 1803 (08/11/2011 high). The implied medium-term downside risk is 1287. A key support is at 1308 (28/01/2011 low).

Daily Technical Report