Commodity Prices

Gold •612 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	2,141.70	+12.40	+0.58%
WTI Crude •21 hours	90.90	+9.89	+12.21%
Gasoline •21 hours	2.747	+0.076	+2.83%
Ethanol •612 days	2.161	+0.000	+0.00%
Silver •612 days	30.82	+1.16	+3.92%

Silver • 612 days	30.82	+1.16	+3.92%
Copper • 612 days	4.530	+0.111	+2.51%
Brent Crude • 20 hours	92.69	+7.28	+8.52%
Natural Gas • 21 hours	3.186	+0.183	+6.09%
Heating Oil • 21 hours	3.622	+0.008	+0.22%

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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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