Gold, Silver, Copper Down, Crude Oil, Nat Gas Up
$GLD, $SLV, $JJC, $USO
- WTI Crude Oil finished the day +0.96 at 50.54 bbl
- Nat Gas finished +0.01 to 2.71 MMBtu
- Apr Gold closed -3.80 at 1204.20 oz
- May Silver fell 0.16 to 16.29 oz
- May Copper fell 0.04 to 2.66 lb
European stocks were lifted on upbeat retail sales report coming from Germany. Retail sales in the biggest economy in the EU were up 2.9% in January, Y-Y. There was another worrisome report on the deflation front coming out of the EU, as its PPI (producer price index) was down 0.9% in January from December, and down 3.4% Y-Y.
Gold Bulls next Northside objective is a close above resistance at 1,236.70.
Gold Bears next Southside objective is a close below support at 1,190.00.
1st resistance is seen at 1,214.40, then at 1,223.00.
1st support is seen at 1,194.60, then at 1,190.00.
|HeffX-LTN Analysis for GLD:||Overall||Short||Intermediate||Long|
|Bearish (-0.28)||Bearish (-0.37)||Neutral (-0.17)||Bearish (-0.31)|
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