Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The recent selloff in the global stocks including those in the United States has pushed the tech-heavy NASDAQ100 to as low as 6260 from 7040 area. Over the past two weeks, the index declined more than 11 percent before a bounce back. The index is currently trading at 6580.
Our calculations suggest if the bears fail to clear the recent bottom and dip further, it is more likely that the index would move higher to test the recent peak around 7030 area.
The current fundamentals; higher profitability thanks to tax cuts, higher U.S. economic growth, and increasing wages remain supportive of the bullish outlook. Compared to that the bears have little to chew on; increasing yields, which are still low compared to historical average, and a potential showdown between the White House and the Democrats.
