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August gold closed lower on Tuesday as it extends the decline off April's high. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If August extends the decline off April's high, the 87% retracement level of the December-January-rally crossing at 1268.40 is the next downside target. Closes above last-Thursday's high crossing at 1313.00 are needed to confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 1313.00. Second resistance is May's high crossing at 1332.40. First support is the 87% retracement level of the December-January-rally crossing at 1268.40. Second support is last-December's low crossing at 1251.90.

July silver closed lower for the third day in a row on Tuesday as it extends the decline off June's high. The low-range close set the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, the reaction low crossing at 16.190 is the next downside target. Closes above the 10-day moving average crossing at 16.770 would confirm that a short-term low has been posted. First resistance is last-Thursday's high crossing at 17.350. Second resistance is April's high crossing at 17.425. First support is the reaction low crossing at 16.190. Second support is May's low crossing at 16.070.

July copper closed sharply lower on Tuesday as it extended this month's decline. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If July extends the aforementioned decline, May's low crossing at 301.00 is the next downside target. Closes above the 10-day moving average crossing at 320.85 are needed to confirm that a low has been posted. First resistance is June's high crossing at 331.55. Second resistance is last-December's high crossing at 334.20. First support is today's low crossing at 303.65. Second support is May's low crossing at 301.00.

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