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February gold closed higher on Friday as it extends the rally off November's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 38% retracement level of the April-August-Decline crossing at 1259.00 is the next upside target. Closes below the 50-day moving average crossing at 1227.00 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1255.80. Second resistance is the 38% retracement level of the April-August-Decline crossing at 1259.00. First support is the 50-day moving average crossing at 1227.00. Second support is November's low crossing at 1202.40.

March silver closed higher on Friday. 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the reaction high crossing at 14.660 confirms that a low has been posted. If March extends today's rally, November's high crossing at 15.040 is the next upside target. If March renews the decline off November's high, November's low crossing at 13.985 is the next downside target. First resistance is today's high crossing at 14.735. Second resistance is November's high crossing at 15.040. First support is November's low crossing at 13.985. Second support is weekly support crossing at 13.860.

March copper closed slightly higher on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Tuesday's low crossing at 272.50 are needed to confirm that a short-term top has been posted. If March renews the rally off August's low, the 38% retracement level of the June-August-decline crossing at 289.43 is the next upside target. First resistance is the 38% retracement level of the June-August-decline crossing at 289.43. Second resistance is the July-5th gap crossing at 295.45. First support is November's low crossing at 266.20. Second support is August's low crossing at 260.00.

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