Other Markets Commodities Commodities are resting at crucial Support levels, with danger existing on the downside. Gold at 284.90 Support at 288 being broken, Gold came down to 285. Bank of England conducts its fifth and final sale of Gold on 21st March. Currently resting at crucial support at 285. Break below would open up 275 or below.
Danger exists on the downside.
Brent Oil stayed rangebound last week. Saudi Arabia and Venezuela are under pressure from the US to put an end to the OPEC Production Cuts which expire on 31st March. Iran, Libya and Algeria want the Cuts to be extended. Our upward bias was justified. May start topping out now and lose ground over the next few weeks, though.