Commodities Weekly (26 Nov ’17)
Immediate downside risks expected to remain limited, however, as the Tension Indicator and background studies continue to improve.
Further gains looked for in the coming weeks, as the 2016 bull trend gains traction, with focus turning to the 17.50, (38.2%) Fibonacci retracement of the 2014-2016 fall.
An unexpected close below 15.50 would delay gains and prompt a Downgrade to Neutral.
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