US EIA Crude Oil Stocks change down to 0.56M in Feb 8 from 2.623M

Despite the fact Gold prices reached as high as the 1652 region today, “we remain concerned, as two factors suggest a rebound, the metals failure to close below 1647.00 yesterday, in addition to the bullish harmonic Gartley that could be completed at 1640.00 level yesterday.” warns the ICN.com Analyst team. “In any case, we will continue to hold onto our bearish downside targets, however we will move our stop loss level to entry point for a risk free trade. A daily closing below 1647.00 could give the bearish scenario further confirmation.”