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Commodities: Gold slips back while Oil treads water in its range
19-11-2009 14:02
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A pull back in the US dollar has contrived to pare some of the gains in the Gold price over the last 24 hours. The dollar index is currently holding above the key 75.00 level and a close above 75.00 would be the third day in a row it would have managed to do this.
Gold has slid back on some profit-taking from its highs yesterday at $1,153, sliding back to lows so far of $1,133.
Crude Oil on the other hand, still appears to be treading water between the resistance levels just above the $80 mark, seeming unable to break through the trend line resistance from the $82.00 highs, and the support between the $75 and $76 area.
Gold has slid back on some profit-taking from its highs yesterday at $1,153, sliding back to lows so far of $1,133.
Crude Oil on the other hand, still appears to be treading water between the resistance levels just above the $80 mark, seeming unable to break through the trend line resistance from the $82.00 highs, and the support between the $75 and $76 area.
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