Commodity Prices

Gold •14 mins	2,310.40	+0.80	+0.03%
Platinum •14 mins	965.30	+2.70	+0.28%
WTI Crude •10 mins	79.14	+0.19	+0.24%
Gasoline •11 mins	2.603	+0.006	+0.24%
Ethanol •6 hours	2.161	+0.000	+0.00%
Silver •14 mins	26.88	+0.05	+0.17%

Silver • 14 mins	26.88	+0.05	+0.17%
Copper • 14 mins	4.491	+0.007	+0.14%
Brent Crude • 10 mins	83.87	+0.20	+0.24%
Natural Gas • 10 mins	2.016	-0.019	-0.93%
Heating Oil • 10 mins	2.450	+0.006	+0.26%

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Gold: Recovery Rally Fading

By - Apr 25, 2014, 5:27 AM CDT

Gold has breached support at 1276 (11/03/2014 low) yet staged a strong recovery rally. Failure to sustain a recovery bounce, indicates a renewed test of support at 1276. Resistance at 1301 (200 day moving average) should cap upside.

Longer term, we are skeptical of a long-term bullish reversal pattern. A move back to the previous lows at 1181 (28/06/2013 low) is eventually favored. A major resistance stands at 1434 (30/08/2013 high).

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