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February gold posted an inside day with a higher close on Wednesday as it consolidates some of the decline off August's high. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish with sideways to lower prices are possible near-term. If February extends the decline off November's high, the 50% retracement level of the March-August-rally crossing at $1711.10 is the next downside target. Closes above the 50-day moving average crossing at $1900.70 would signal that a short-term low has been posted. First resistance is the 50-day moving average crossing at $1900.70. Second resistance is November's high crossing at $1966.10. First support is the 38% retracement level of the March-August-rally crossing at $1771.40. Second support is the 50% retracement level of the March-August-rally crossing at $1711.10.

March silver posted an inside day with a slightly higher close on Wednesday while extending the September-November trading range. The mid-range close sets the stage for a steady opening when Friday'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 March extends this month's decline, October's low crossing at 22.805 is the next downside target. Closes above the November 16th high crossing at 25.285 would confirm that a short-term low has been posted. First resistance is November's high crossing at 26.270. Second resistance is the September 15th high crossing at 28.015. First support is Tuesday's low crossing at 23.050. Second support is October's low crossing at 22.805.

March copper closed higher on Wednesday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Friday'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 March's low, the June-2018 high crossing at 341.45 is the next upside target. Closes below the 20-day moving average crossing at 318.02 would signal that a short-term top has been posted. First resistance is today's high crossing at 335.15. Second resistance is the June-2018 high crossing at 341.45. First support is the 20-day moving average crossing at 318.02. Second support is the 50-day moving average crossing at 310.20.