By Saxo Bank
| Sep 30, 2012 07:33AM GMT |
The strong bounce in precious metals yesterday following the midweek correction supports the current positive momentum with focus once again turning to whether upside resistance can be breached. Look out for silver in such a situation as it tends to show the way.
As we approach month and quarter end commodities showed no major change from their current trends. October gasoline which expires today moved into positive momentum following the dramatic spike in recent days. The next contract of November however does not yet show similar characteristics as the rally was driven by shortages around the New York Harbour area which is the delivery hub for RBOB gasoline.
Momentum Indicator On Major Commodities
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