World commodity update for 06/04/2009

Gold: Gold took the major trend line and the 21 Daily EMA resistance and plunged to 876 dollars as expected in previous reports. Strategy stays bearish . Sell again at retracement at $908. Bearish (Gold: $876.00)

Crude Oil closed slightly higher on Friday as it extended Thursday's rally above the 10-day moving average crossing. The mid-range close sets the stage for a steady opening on Monday. Stochastic and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If it extends this week's rally, March's high crossing is the next upside target. Closes below Wednesday's low crossing would confirm that a short-term top has been posted.