Commodities
Gold Futures at Critical Pivot: VC PMI Targets $4,213-$4,240
The gold futures market has entered a technically important position after completing a sharp five-day recovery from its recent low of $4,011.1 to a high of $4,180.2.
The current price near $4,103 has moved both the VC PMI below the daily mean at $4,118 and the weekly mean at $4,114, placing the market in a short-term bearish-neutral configuration.
A recovery and close above $4,114, $4,118 would improve momentum and place the upper VC PMI targets back in play.