S&P 500
1994.99
-26.26 -1.32%
Dow Indu
17164.95
-251.90 -1.47%
Nasdaq
4632.33
-51.08 -1.10%
Crude Oil
48.24
+3.23 +6.75%
Gold
1283.660
+24.205 +1.89%
Euro
1.12780
+0.00005 0.00%
US Dollar
94.857
+0.174 +0.22%
Strong

Market Commentary

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

February gold closed sharply higher on Friday as it consolidates some of Thursday's decline. The high-range close sets the stage for a steady to higher opening when Monday'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 20-day moving average crossing at 1253.20 are needed to confirm that a short-term top has been posted. If February renews this month's rally, the 75% retracement level of the March-November-2014-decline crossing at 1324.50 is the next upside target. First resistance is last Thursday's high crossing at 1307.80. Second resistance is the 75% retracement level of the March-November-2014-decline crossing at 1324.50. First support is the 20-day moving average crossing at 1253.20. Second support is the reaction low crossing at 1224.90.

March silver closed higher due to short covering on Friday as it consolidated some of Thursday's decline. The high-range close set the stage for a steady to higher opening when Monday'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 extends Thursday's decline, the reaction low crossing at 16.560 is the next downside target. If March renews this month's rally, the 62% retracement level of the February-December-2014-decline crossing at 19.146 is the next upside target. First resistance is last Wednesday's high crossing at 18.505. Second resistance is the 62% retracement level of the February-November-decline crossing at 19.146. First support the reaction low crossing at 16.560. Second support is the reaction low crossing at 16.210.

March copper closed higher due to short covering on Friday. The high-range close sets the stage for a steady to higher opening when Monday'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 year's decline, monthly support crossing at 210.43 is the next downside target. Closes above the 20-day moving average crossing at 262.04 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 253.43. Second resistance is the 20-day moving average crossing at 262.04. First support is Monday's low crossing at 241.90. Second support is monthly support crossing at 210.43.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.