Commodity Prices

Gold •524 days	2,368.70	+35.30	+1.51%
Platinum •19 mins	1,687.10	-13.40	-0.79%
WTI Crude •11 mins	58.47	+0.22	+0.38%
Gasoline •11 mins	1.794	+0.005	+0.26%
Ethanol •524 days	2.161	+0.000	+0.00%
Silver •524 days	30.82	+1.16	+3.92%

Silver • 524 days	30.82	+1.16	+3.92%
Copper • 524 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	62.13	+0.19	+0.31%
Natural Gas • 11 mins	4.561	-0.013	-0.28%
Heating Oil • 11 mins	2.274	+0.014	+0.63%

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Gold: Bouncing Sharply

By - May 05, 2014, 5:09 AM CDT

Gold bounced sharply on Friday, strengthening the support at 1269. The resistance at 1307 is challenged. Other resistances are given by the declining channel (around 1321) and 1331. An hourly support lies at 1297 (intraday low).

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 favoured. A major resistance stands at 1434 (30/08/2013 high).

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