Apr 23, 2013
Commodities Brief – Precious metals held by key resistances, crude fortified above 88.00
The yellow metal was rebuffed by the 1428 resistance Tuesday, unable to achieve prolonged stability above this key upside mark. Having failed to summit this level, the price has fallen lower, trading negatively during US trading. With a bearish engulfing now present for gold, the price has settled currently at USD $1418.26 per oz. A retest or breach of the 1428 level will ultimately cancel the bearish outlook.
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