Commodity Prices

Gold •635 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,915.00	+9.40	+0.49%
WTI Crude •11 mins	103.19	+0.31	+0.30%
Gasoline •41 mins	3.355	+0.004	+0.10%
Ethanol •635 days	2.161	+0.000	+0.00%
Silver •635 days	30.82	+1.16	+3.92%

Silver • 635 days	30.82	+1.16	+3.92%
Copper • 635 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	117.50	+4.72	+4.19%
Natural Gas • 11 mins	2.946	+0.059	+2.04%
Heating Oil • 16 mins	4.305	-0.059	-1.36%

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Gold: Declining Sharply

By - Jul 14, 2014, 6:02 AM CDT

Gold is declining sharply after having broken the resistance at 1331. Hourly supports are given by the short-term rising trendline (around 1314) and 1305. A resistance now stands at 1345 (10/07/2014 high).

In the long-term, we are sceptical that the horizontal range between the strong support at 1181 (28/06/2013 low) and the major resistance at 1434 (30/08/2013 high) is a long-term bullish reversal pattern. As a result, a decline towards the low of this range is eventually favoured.

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