[15:31 US TECHS: Commodities Outlook; Gold and Oil] Boston, February 7.         
Developments are few for [gold] today, sporting modest gains.  As noted over the
past week, gold"s ability to stay outside (above) its symmetrical triangle      
formation (most easily visible on continuous futures charts back to mid-July)   
keeps the view bullish on this market.  Slowing upside momentum along with      
divergences compared to readings from the end of 2006 are one negative          
development that has not resolved itself.  Trend Intensity, IFR's proprietary   
trend indicator, is stuck  at 16, likely to hold there for a fifth day.  This is
turning into a weak bull trend signal but until neutralized, bulls keep their   
edge.  Intraday supports are close by at $656-57.  Holding above $650 Apr keeps 
the market on a more bullish note.  Eventual targets are near $677.             
    In Mar [oil], the market has tapped against 50-day moving averages          
(resistance at $59.77 Mar) the past several days and has come close today.  With
reference lows and measured retracements nearly identical to either side of     
$60.50, expectations are strong that the upside correction will slow and reverse
course.  Whether the 50-day average or retracement levels mark the absolute top,
caution is urged about overstaying on the long side for trading accounts.       
Intraday supports are not far below at $59.00-25 Mar.  Daily momentum is almost 
neutral for the first time in 2007, another reason for caution.                 
Joel.Marver@thomson.com /cm