Commodity Prices

Gold •503 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,558.20	+3.00	+0.19%
WTI Crude •11 mins	60.61	-0.13	-0.21%
Gasoline •55 mins	1.983	-0.017	-0.83%
Ethanol •503 days	2.161	+0.000	+0.00%
Silver •503 days	30.82	+1.16	+3.92%

Silver • 503 days	30.82	+1.16	+3.92%
Copper • 503 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	64.72	-0.17	-0.26%
Natural Gas • 12 mins	4.385	+0.014	+0.32%
Heating Oil • 12 mins	2.714	+0.013	+0.47%

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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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