Friday Nov 22, 9:52AM EST

Market Commentary and Analysis

Trader's Blog

Target (TGT) and The Monthly Trade Triangles

1 day ago

Platinum Could Rocket To $1912

3 days ago

VIX Warns Of Imminent Market Correction

4 days ago

Weekly Futures Recap With Mike Seery

5 days ago

World Oil Supply And Price Outlook, November 2019

6 days ago

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 was higher overnight as it extends the trading range of the past two-weeks. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 1494.00 would signal that a short-term low has been posted. If December resumes the decline off September's high, the 50% retracement level of the May-September rally crossing at 1426.60 is the next downside target. First resistance is the reaction high crossing at 1543.30. Second resistance is September's high crossing at 1566.20. First support is last-Tuesday's low crossing at 1446.20. Second support is the 50% retracement level of the May-September rally crossing at 1426.60.

December silver was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 17.575 are needed to confirm that a short-term low has been posted. If December resumes the decline off September's high, the 62% retracement level of the June-September-rally crossing at 16.547 is the next downside target. First resistance is the 50-day moving average crossing at 17.575. Second resistance is the October's high crossing at 18.350. First support is the 62% retracement level of the June-September-rally crossing at 16.547. Second support is the 75% retracement level of the June-September-rally crossing at 15.859.

December copper was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day 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 December extends the decline off November's high, the reaction low crossing at 257.30 is the next downside target. Closes above the 20-day moving average crossing at 265.89 would temper the near-term bearish outlook. First resistance is November's high crossing at 273.00. Second resistance is the 87% retracement level of the July-September-decline crossing at 276.34. First support is last-Thursday's low crossing at 261.30. Second support is the reaction low crossing at 257.30.