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Gold •15 mins	1,590.30	+3.90	+0.25%
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WTI Crude •11 mins	51.15	-0.90	-1.73%
Gasoline •10 mins	1.718	-0.009	-0.53%
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Silver • 15 mins	17.85	+0.12	+0.65%
Copper • 15 mins	2.603	+0.003	+0.12%
Brent Crude • 10 mins	56.57	-1.10	-1.91%
Natural Gas • 10 mins	1.955	+0.099	+5.33%
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Gold - Back Above 1100

By - Jan 21, 2016, 5:47 AM CST

Gold seems to be in a short-term upside move. Yet, the metal is still trading between hourly support at 1046 (03/12/2015 low) and resistance at 1113 (08/01/2016 high). Expect to show continued a deeper upside move.

In the long-term, the underlying downtrend (see declining channel) continues to favour a bearish bias. A break of the resistance at 1223 is needed to suggest something more than a temporary rebound. A major support can be found at 1045 (05/02/2010 low).

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