S&P 500
2750.79
-16.34 -0.59%
Dow Indu
25250.55
-89.44 -0.35%
Nasdaq
7430.63
-66.26 -0.89%
Crude Oil
71.16
-0.62 -0.86%
Gold
1228.395
+1.280 +0.10%
Euro
1.157465
-0.001105 -0.10%
US Dollar
95.017
-0.023 -0.02%
Weak

Market Commentary

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

INO.com’s Daily Market Analysis

It’s free, informative, and will help you prepare and plan for the next trading day, while getting a jump on changing market conditions.

Privacy Policy

PRECIOUS METALS https://quotes.ino.com/exchanges/?c=metals

December gold closed higher on Monday as it the rally off October's low. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher are possible near-term. If December extends the aforementioned rally, the 38% retracement level of the April-August-Decline crossing at 1251.30 is the next upside target. Closes below the reaction low crossing at 1184.30 would confirm that a short-term top has been posted while opening the door for a possible test of August's low crossing at 1167.10. First resistance is today's high crossing at 1236.90. Second resistance is the 38% retracement level of the April-August-Decline crossing at 1251.30. First support is the reaction low crossing at 1184.30. Second support is August's low crossing at 1167.10.

December silver closed higher on Monday. The mid-range close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 14.950 would confirm that a short-term top has been posted while opening the door for additional gains near-term. First resistance is the reaction high crossing at 14.950. Second resistance is the reaction high crossing at 15.070. First support is September's low crossing at 13.965. Second support is the December-2015 low on the weekly continuation chart crossing at 13.620.

December copper closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If December renews the rally off August's low, the reaction high crossing at 288.85 is the next upside target. Closes below the 50-day moving average crossing at 272.74 are needed to confirm that a short-term top has been posted. First resistance is the reaction high crossing at 288.85. Second resistance is the July-5th gap crossing at 293.10. First support is the 50-day moving average crossing at 272.74. Second support is August's low crossing at 257.45.

© Copyright INO.com, Inc. All Rights Reserved.