A/U rallied briefly along with Euro Friday eve on weak USD due...

A/U rallied briefly along with Euro Friday eve on weak USD due to econ #s below expectations. Gold rallied almost as high as 1640, its drop point few weeks back from a 3½yr uptrend. A/U downtrend resumption looks likely with the commodities such as Oil & Cu, along with European financials, matching its fall.

Currently A/U below 78.6% Oct11-Mar12 retrace of 97, next support is at high 94s, a trendline parallel to Jul11-Oct11 peaks, else a chance of reaching a LT weekly trendline ~93 beneath 2011's low.

Texas sliced thru support at 88, and could be heading to 61.8% retrace of 2007-09 range at 77. Brent targetting 91.8, 50% retrace of 07-09.

Copper not as clear cut as Oil, couple trendlines one at 320 for one possible H&S RS, which could form a second shoulder or drop thru, and another at 312, with few combinations in between by varying LS and neckline possibilities...

Europe Financials (xx:sx7p, bigcharts) dropped thru 120 support, and could be headed to a trendline down at ~105-.3125/d.