Commodity Prices

Gold •141 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	974.90	+4.40	+0.45%
WTI Crude •10 mins	70.60	+0.50	+0.71%
Gasoline •10 mins	2.049	-0.010	-0.50%
Ethanol •141 days	2.161	+0.000	+0.00%
Silver •141 days	30.82	+1.16	+3.92%

Silver • 141 days	30.82	+1.16	+3.92%
Copper • 141 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	74.59	+0.36	+0.48%
Natural Gas • 10 mins	3.156	-0.183	-5.48%
Heating Oil • 10 mins	2.267	-0.007	-0.31%

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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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