Headlines
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Weaker greenback sends gold up
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Chinese demand pushes base metals up again
BRENT - Toying with neckline of Triangle pattern (see graph)
LCOc1 (Brent Futures: 51.80 Daily charts).
New recovery high and currently toying back with 52.21 (neckline Triangle pattern: see graph).
1st support area at 51.34 (daily Bollinger midline), with next levels at 50.90/ .78 (current week low/ daily envelope bottom), ahead of 49.80 (April 08 low) and 46.89 (50 Day Moving Average: see graph), where pause favored.
1st Resistance area at 54.12/ .31 (current week high/ current new recovery high), where pause favored.
If wrong, next levels 54.90/ 55.28 (Nov 28 high/ daily Bollinger top), ahead of 57.71/ 57.79 (weekly envelope top/ daily Starc top): tough on 1st attempts.
