Wednesday Feb 26, 6:03PM EST

Market Commentary and Analysis

Trader's Blog

$50 Crude Oil Not Likely To Hold

10 hours ago

Has The Equities Waterfall Event Started?

1 day ago

Gold Hits Target And Seven Year High

2 days ago

Coronavirus Boost Safe-Haven Futures

3 days ago

Facebook Remains Compelling

4 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

April gold closed higher on Wednesday. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at $1595.20 are needed to confirm that a short-term top has been posted. If April resumes the rally off January's low, monthly resistance crossing at $1704.10 is the next upside target. First resistance is Monday's high crossing at $1691.70. Second resistance is weekly resistance crossing at $1704.10. First support is the 20-day moving average crossing at $1595.20. Second support is the 50-day moving average at $1562.00.

March silver closed lower on Wednesday as it extended Tuesday's decline. The low-range close set the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average at 17.822 would confirm that a short-term top has been posted. If March renews this month's rally, the September 24th high crossing at 18.930 is the next upside target. First resistance is Monday's high crossing at 18.920. Second resistance is the September 24th high crossing at 18.930. First support is the 50-day moving average at 17.822. Second support is the February low crossing at 17.435.

March copper closed slightly higher on Wednesday. The high-range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes this year's decline, the 75% retracement level of the 2016-2018-rally crossing at 234.31 is the next downside target. If March renews the rally off February's low, the 50-day moving average crossing at 270.59 is the next upside target. First resistance is last-Tuesday's high crossing at 263.25. Second resistance is the 50-day moving average crossing at 270.59. First support is the February 10th low crossing at 254.00. Second support is February's low crossing at 248.75.