Commodity Prices

Gold •712 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,780.60	+7.80	+0.44%
WTI Crude •11 mins	80.18	-0.57	-0.71%
Gasoline •11 mins	2.933	-0.015	-0.49%
Ethanol •712 days	2.161	+0.000	+0.00%
Silver •712 days	30.82	+1.16	+3.92%

Silver • 712 days	30.82	+1.16	+3.92%
Copper • 712 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	82.45	-0.72	-0.87%
Natural Gas • 11 mins	3.171	+0.024	+0.76%
Heating Oil • 11 mins	3.235	-0.031	-0.96%

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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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