The last three weeks have been terrible for commodities. Most of them have been losing ground and it looks like the situation in the long-term is set – we should see a further decline.
WTI made new yearly lows and attacked the minimums from the November 2016. This is where we finally found some demand and the price is currently creating a nice hammer. In theory, it's a good chance for a reversal or at least for a small bullish correction. The chances of a correction will rise if buyers manage to close the day above the 45.5 USD/bbl support.
DAX is showing a lot of strength. It managed to break the upper line of the channel up formation, which happens only during strong trends. No bearish signals whatsoever and the bullish party goes on.
It's now or never for gold buyers. After breaking the up trendline, the price is defending on the last important support created by the 38,3% Fibonacci and the correction equality pattern (green). First reaction here is bullish but is it enough to stop the three-week downfall?