Commodity Prices

Gold •851 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,448.50	+12.50	+0.87%
WTI Crude •11 mins	97.76	-6.36	-6.11%
Gasoline •11 mins	2.970	-0.187	-5.91%
Ethanol •851 days	2.161	+0.000	+0.00%
Silver •851 days	30.82	+1.16	+3.92%

Silver • 851 days	30.82	+1.16	+3.92%
Copper • 851 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	106.89	-6.54	-5.77%
Natural Gas • 11 mins	2.938	+0.040	+1.38%
Heating Oil • 11 mins	4.486	-0.190	-4.06%

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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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