Commodities Monthly (Dec ’17)

Gold coming under pressurePullback from $1357.50~ high of September deepening.

Prices currently pressuring congestion around $1250.

Falling momentum and the weakening Tension Indicator highlight further downside risks.

Next significant support at the $1204.45 low of July, where improving background studies could promote stabilisation.

A close above the $1375/$1380~ year high of July 2016 is needed to confirm continuation of the broad 2015 rally.

Cautious Downgrade to Negative.

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