Commodity Prices

Gold •490 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,561.40	-1.20	-0.08%
WTI Crude •11 mins	59.73	+0.13	+0.22%
Gasoline •16 mins	1.920	+0.011	+0.57%
Ethanol •490 days	2.161	+0.000	+0.00%
Silver •490 days	30.82	+1.16	+3.92%

Silver • 490 days	30.82	+1.16	+3.92%
Copper • 490 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	63.64	+0.12	+0.19%
Natural Gas • 11 mins	4.276	+0.044	+1.04%
Heating Oil • 13 mins	2.436	+0.003	+0.14%

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Gold - Bullish Momentum is Growing

By - Jan 26, 2016, 5:44 AM CST

Gold's short-term upside move continues. The metal has broken hourly resistance at 1113 (08/01/2016 high. Hourly support is given at 1046 (03/12/2015 low). Expected to show 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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