David Fuller's view Gold - has extended its orderly advance, clearing most resistance centred on $1150. Both the secular bull market dating back to 2001 and the medium term uptrend following last September's breakout remain intact. A downward dynamic is required to signal more than a brief pause and consolidation, and a close beneath the March reaction low would be necessary to offset current scope for a move to new all-time highs.

Palladium - remains firm above the psychological $500 level and here also a downward dynamic is needed to indicate a deeper consolidation. The overall uptrend is steepening once again but appears better underpinned by support building than just prior to the correction commencing in January. As the clear leaders of this up-leg, there is a good chance that palladium and platinum will peak within this short to medium-term advance before gold and silver.

Platinum - same (weekly & daily) as palladium above.

Silver - remains the most volatile precious metal but like gold it is not overextended relative to its rising 200-day moving average. Here also a downward dynamic is required to check short-term momentum beyond a brief pause.

Switzerland (SMI) - was an upside leader within Europe in February before losing upside momentum beneath the psychological 7000 level. Today's rebound indicates a downside failure yesterday and a close beneath 6750 would now be required to offset current scope for additional gains in line with the overall uptrend.

Misys (MSY LN) - appears to be completing a consolidation above its mid-October - February consolidation. A close beneath 240p is now required to offset current scope for a further challenge of the last bull cycle's highs in the 250p to 270p region.

Bouygues (EN FP) - emphatic breakout completes a lengthy mean reversion consolidation towards the MA and also the first step (as taught at TCS) above the base formation. A close beneath €38 is now required to question current scope for additional gains.

CAD/JPY - is consolidating gains following a decisive breakout from a very large trading range. Support commencing at ¥ 90 should limit downside risk during this phase and lead to higher levels over the medium term.