S&P 500
2775.60
+29.87 +1.08%
Dow Indu
25883.25
+443.86 +1.71%
Nasdaq
7472.41
+45.45 +0.61%
Crude Oil
56.06
+0.47 +0.84%
Gold
1326.56
+1.96 +0.15%
Euro
1.131350
-0.000305 -0.03%
US Dollar
96.772
-0.152 -0.16%
Strong

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

April gold closed higher on Friday and the high-range close sets the stage for a steady to higher 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 April renews the rally off November's low, the 75% retracement level of the April-August-Decline crossing at 1349.50 is the next upside target. Closes below the 20-day moving average crossing at 1310.70 would confirm that a short-term top has been posted. First resistance is January's high crossing at 1331.10. Second resistance is the 75% retracement level of the April-August-decline crossing at 1349.50. First support is the 20-day moving average crossing at 1310.70. Second support is January's low crossing at 1281.50.

March silver closed higher on Friday. The high-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 bearish signaling that a short-term top might be in or is near. If March extends the decline off January's high, the 50-day moving average crossing at 15.388 is the next downside target. If March resumes the rally off November's low, the 50% retracement level of the 2017-2018-decline crossing at 16.279 is the next upside target. First resistance is January's high crossing at 16.200. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.279. First support is the 50-day moving average crossing at 15.388. Second support is January's low crossing at 15.195.

March copper posted a key reversal up on Friday. The high-range close sets the stage for a steady to higher 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. If March renews the rally, September's high crossing at 288.80 is the next upside target. Closes below the 20-day moving average crossing at 275.76 would confirm that a short-term top has been posted. First resistance is December's high crossing at 285.80. Second resistance is September's high crossing at 288.80. First support is the 20-day moving average crossing at 275.76. Second support is the reaction low crossing at 263.45.

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