Commodity Prices

Gold •604 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	2,373.50	+133.90	+5.98%
WTI Crude •12 hours	67.02	+1.81	+2.78%
Gasoline •12 hours	2.078	+0.046	+2.24%
Ethanol •604 days	2.161	+0.000	+0.00%
Silver •604 days	30.82	+1.16	+3.92%

Silver • 604 days	30.82	+1.16	+3.92%
Copper • 604 days	4.530	+0.111	+2.51%
Brent Crude • 11 hours	72.87	+2.03	+2.87%
Natural Gas • 12 hours	2.859	+0.032	+1.13%
Heating Oil • 12 hours	2.671	+0.058	+2.24%

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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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