Market Commentary and Analysis
Trader's Blog
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.
MarketClub and INO.com will be discontinued as of April 20, 2026. For more information, please review the emails sent to all paying members on March 18 or March 19.
PRECIOUS METALS https://quotes.ino.com/exchanges/?c=metals
April gold closed slightly higher on Wednesday as it extends this month's trading range. The low-range close sets the stage for a steady to slightly higher opening when Thursday's day session begins trading. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. Closes above the January 12th high crossing at $2067.30 would confirm that a short-term low has been posted. If April resumes the decline off the late-December high, December's low crossing at $1987.90 is the next downside target. First resistance the January 12th high crossing at $2067.30. Second resistance is the December 28th high crossing at $2098.20. First support is December's low crossing at $1987.90. Second support is November's low crossing at $1955.40.
March silver closed lower on Wednesday as it consolidates some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Thursday's day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, the 50-day moving average crossing at 23.784 is the next upside target. Closes below the 10-day moving average crossing at 22.853 would signal that a short-term top has been posted. If March renews the decline off the December 22nd high, the 87% retracement level of the October-December rally crossing at 21.842 is the next downside target. First resistance is the 50-day moving average crossing at 23.784. Second resistance is the December 22nd high crossing at 24.895. First support is January's low crossing at 22.040. Second support is the 87% retracement level of the October-December rally crossing at 21.842.
March copper posted a downside reversal as it closed lower on Wednesday as it consolidates some of the rally off January's low. The low-range close sets the stage for a steady to lower opening when Thursday's day 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 January's low, December's high crossing at 3.9740 is the next upside target. Closes below the 20-day moving average crossing at 3.8089 would signal that a short-term top has been posted. First resistance is today's high crossing at 3.9470. Second resistance is December's high crossing at 3.9740. First support is the 20-day moving average crossing at 3.8089. Second support is January's low crossing at 3.7145.