I had time this weekend to work on the weekly CL and GC charts, and it appears they have both found ST bottoms, but have a long way to prove whether an IT low is in.
First with crude, since the US markets are relatively intertwined (energy sector, et al) with the price of crude. It seems to me that crude could continue moving upward but will find some resistance at the $47-$48 range first, then again at the fib 23.6 level of $54.66 and finally again at the $60 range.
Likewise the gold market seems to have found at least a ST bottom, but again it also appears to have a way to go before is shows an IT bottom is in...
I see resistance at the fib 23.6 level of $1,252.70, which has already been acheived, so the next resistance would be at the fib 38.2 level of $1,380.90.