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April gold closed lower on Friday as it consolidates some of the rally off December's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If April extends the rally off December's low, November's high crossing at 1882.50 is the next upside target. Closes below Tuesday's low crossing at $1804.70 would signal that a short-term top has been posted. First resistance is Thursday's high crossing at $1850.80. Second resistance is November's high crossing at $1882.50. First support is Tuesday's low crossing at $1807.20. Second support is the January 7th low crossing at $1783.80.

March silver posted an inside day with a lower close on Friday as it consolidated some of the rally off December's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 87% retracement level of the November-December-decline crossing at 25.014 is the next upside target. Closes below the 20-day moving average crossing at 23.159 would temper the near-term friendly outlook in the market. First resistance is the 75% retracement level of the November-December-decline crossing at 24.512. Second resistance is the 87% retracement level of the November-December-decline crossing at 25.014. First support is the 20-day moving average crossing at 23.159. Second support is last-Friday's low crossing at 22.845.

March copper posted an inside day with a lower close 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 bullish signaling that sideways to higher prices are possible near-term. If March resumes the rally off December's low, the 75% retracement level of the October-December decline crossing at 461.42 is the next upside target. Closes below the 50-day moving average crossing at 437.72 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the October-December decline crossing at 461.42. Second resistance is the 87% retracement level of the October-December decline crossing at 469.36. First support is the January 6th low crossing at 431.35. Second support is December's low crossing at 411.95.