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August gold closed higher on Friday as it rebounded off support marked by the 75% retracement level of the 2016-2018 rally crossing at 1213.00. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold, diverging but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 1248.10 are needed to confirm that a short-term low has been posted. If August extends the decline off April's high, the 87% retracement level of the 2016-2018 rally crossing at 1186.40 is the next downside target. First resistance is the 20-day moving average crossing at 1248.10. Second resistance is July's high crossing at 1266.90. First support is the 75% retracement level of the 2016-2018 rally crossing at 1213.00. Second support is the 87% retracement level of the 2016-2018 rally crossing at 1186.40.

September silver closed higher due to short covering on Friday as it consolidated some of the decline off June's high. The high-range close set the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold, diverging but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 15.970 are needed to confirm that a short-term low has been posted. If September extends the decline off June's high, weekly support crossing at 15.145 is the next downside target. First resistance is the 20-day moving average crossing at 15.970. Second resistance is July's high crossing at 16.260. First support is Thursday's low crossing at 15.185. Second support is weekly support crossing at 15.145.

August copper closed higher on Friday as it consolidated some of the decline off June's high. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold, diverging but are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 285.60 are needed to confirm that a low has been posted. If August extends the aforementioned decline, the 62% retracement level of the 2016-2018 rally crossing at 257.85 is the next downside target. First resistance is the 10-day moving average crossing at 276.92. Second resistance is the 20-day moving average crossing at 285.60. First support is Thursday's low crossing at 267.00. Second support is the 62% retracement level of the 2016-2018 rally crossing at 257.85.

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