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October gold closed higher due to short covering on Friday as it consolidates some of this summer's decline. 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 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 1212.30 are needed to confirm that a short-term low has been posted. If October extends the decline off April's high, the December-2016 low crossing at 1162.10 is the next downside target. First resistance is the 20-day moving average crossing at 1212.30. Second resistance is the reaction high crossing at 1239.80. First support is Thursday's low crossing at 1162.70. Second support is the December-2016 low crossing at 1162.10.

September silver closed higher due to short covering on Friday as it consolidated some of the 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 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 15.269 are needed to confirm that a short-term low has been posted. If September extends the decline off June's high, the December-2015 low on the weekly continuation chart crossing at 13.620 is the next downside target. First resistance is the reaction high crossing at 15.700. Second resistance is the 50-day moving average crossing at 15.849. First support is Thursday's low crossing at 14.315. Second support is the December-2015 low on the weekly continuation chart crossing at 13.620.

September copper closed higher due to short covering on Friday as it consolidated some of this summer's decline. 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 turning neutral to bullish signaling that a low might be in or is near. Closes above the reaction high crossing at 281.80 are needed to confirm that a short-term low has been posted. If September extends the decline off June's high, the 62% retracement level of the 2016-2018 rally crossing at 250.74 is the next downside target. First resistance is the reaction high crossing at 286.70. Second resistance is the 50-day moving average crossing at 287.94. First support is Wednesday's low crossing at 255.20. Second support is the 62% retracement level of the 2016-2018 rally crossing at 250.74.

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