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Showing posts with label Commodity Levels. Show all posts
Showing posts with label Commodity Levels. Show all posts
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Oct 19, 2008
Commodity Levels for 20-10-08 Week
December gold closed lower on Friday as it extends Thursday's breakout below the lower boundary of this fall's trading range crossing at 822.50. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are becoming oversold but remain bearish signaling that sideways to lower prices are possible near-term. If December extends today's decline, September's low crossing at 739.80 is the next downside target. Closes above the 20-day moving average crossing at 865.90 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 851.30. Second resistance is the 20-day moving average crossing at 865.90. First support is today's low crossing at 772.20. Second support is September's low crossing at 739.80.
December silver closed lower on Friday and below the 75% retracement level of the 2004-2008-rally crossing at 9.787. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If December extends this fall's decline, the 87% retracement level crossing at 7.811 is the next downside target. Closes above the 20-day moving average crossing at 11.763 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 10.791. Second resistance is the 20-day moving average crossing at 11.763. First support is today's low crossing at 9.090. Second support is the 87% retracement level crossing at 7.811.
December copper closed higher on Friday due to short covering as it consolidated some of Thursday's decline. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, monthly support crossing at 201.33 is the next downside target. Closes above the 20-day moving average crossing at 263.50 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 230.85. Second resistance is Tuesday's high crossing at 252.95. First support is Thursday's low crossing at 204.05. Second support is monthly support crossing at 201.33.
December silver closed lower on Friday and below the 75% retracement level of the 2004-2008-rally crossing at 9.787. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If December extends this fall's decline, the 87% retracement level crossing at 7.811 is the next downside target. Closes above the 20-day moving average crossing at 11.763 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 10.791. Second resistance is the 20-day moving average crossing at 11.763. First support is today's low crossing at 9.090. Second support is the 87% retracement level crossing at 7.811.
December copper closed higher on Friday due to short covering as it consolidated some of Thursday's decline. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, monthly support crossing at 201.33 is the next downside target. Closes above the 20-day moving average crossing at 263.50 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 230.85. Second resistance is Tuesday's high crossing at 252.95. First support is Thursday's low crossing at 204.05. Second support is monthly support crossing at 201.33.
Oct 10, 2008
Commodity Levels for 10-10-08
December gold was higher overnight and spiked above resistance marked by September's high crossing at 878.00. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If December extends the rally off September's low, the 75% retracement level of the July-September decline crossing at 970.90 is the next upside target. Closes below the 20-day moving average crossing at 872.30 are needed to confirm that a top has been posted. First resistance is the overnight high crossing at 937.00. Second resistance is the 75% retracement level of the July-September decline crossing at 970.90. First support is the 10-day moving average crossing at 880.10. Second support is the 20-day moving average crossing at 872.30.
December silver was lower overnight as it consolidates below the 20-day moving average crossing at 12.198. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 12.197 are needed to confirm that a short-term low has been posted. If December renews last week's decline, September's low crossing at 10.310 is the next downside target. First resistance is the 20-day moving average crossing at 12.198. Second resistance is the overnight high crossing at 12.335. First support is last Friday's low crossing at 10.840. Second support is September's low crossing at 10.310.
December copper was sharply lower overnight and posted a new contract low as it extended the previous low of 220.00. Stochastics and the RSI are oversold but are bearish signaling that additional weakness is possible near-term. If December extends this summer's decline, monthly support crossing at 201.33 is the next downside target. Closes above the 20-day moving average crossing at 285.63 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 258.94. Second resistance is the 20-day moving average crossing at 285.63. First support is the overnight low crossing at 216.00. Second support is monthly support crossing at 201.33.
December silver was lower overnight as it consolidates below the 20-day moving average crossing at 12.198. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 12.197 are needed to confirm that a short-term low has been posted. If December renews last week's decline, September's low crossing at 10.310 is the next downside target. First resistance is the 20-day moving average crossing at 12.198. Second resistance is the overnight high crossing at 12.335. First support is last Friday's low crossing at 10.840. Second support is September's low crossing at 10.310.
December copper was sharply lower overnight and posted a new contract low as it extended the previous low of 220.00. Stochastics and the RSI are oversold but are bearish signaling that additional weakness is possible near-term. If December extends this summer's decline, monthly support crossing at 201.33 is the next downside target. Closes above the 20-day moving average crossing at 285.63 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 258.94. Second resistance is the 20-day moving average crossing at 285.63. First support is the overnight low crossing at 216.00. Second support is monthly support crossing at 201.33.
Sep 28, 2008
Metal Levels for 29-09-08
December Gold closed higher on Friday due to short covering while extending this week's trading range. A late-day rally tempered early losses and the mid-range close sets the stage for a steady opening on Monday. However, stochastics and the RSI are becoming overbought and are turning neutral hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 828.70 are needed to confirm that a top has been posted. If December extends this month's rally, the 62% retracement level of this summer's decline crossing at 930.20 is the next upside target. First resistance is last Thursday's high crossing at 926.00. Second resistance is the 62% retracement level of this summer's decline crossing at 930.20. First support is Thursday's low crossing at 868.80. Second support is the 10-day moving average crossing at 864.90.
December Silver closed higher on Friday as it extends this week's trading range below the 38% retracement level of the July- September decline crossing at 13.878. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, the reaction high crossing at 14.130 is the next upside target. Closes below the 20-day moving average crossing at 12.321 would temper the near-term friendly outlook in the market. First resistance is Thursday's high crossing at 13.880. Second resistance is the reaction high crossing at 14.130. First support is the 10-day moving average crossing at 12.535. Second support is the 20-day moving average crossing at 12.321.
December Copper closed lower on Friday as it extended this week's decline below the 10-day moving average crossing at 312.28. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 300.00 would renew the decline off July's high. If December renews Monday's rally, the 38% retracement level of the July-September decline crossing at 339.44 is the next upside target. First resistance is Monday's high crossing at 330.30. Second resistance is the 38% retracement level of the aforementioned decline crossing at 339.44. First support is today's low crossing at 304.50. Second support is last Thursday's low crossing at 300.00.
December Silver closed higher on Friday as it extends this week's trading range below the 38% retracement level of the July- September decline crossing at 13.878. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, the reaction high crossing at 14.130 is the next upside target. Closes below the 20-day moving average crossing at 12.321 would temper the near-term friendly outlook in the market. First resistance is Thursday's high crossing at 13.880. Second resistance is the reaction high crossing at 14.130. First support is the 10-day moving average crossing at 12.535. Second support is the 20-day moving average crossing at 12.321.
December Copper closed lower on Friday as it extended this week's decline below the 10-day moving average crossing at 312.28. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 300.00 would renew the decline off July's high. If December renews Monday's rally, the 38% retracement level of the July-September decline crossing at 339.44 is the next upside target. First resistance is Monday's high crossing at 330.30. Second resistance is the 38% retracement level of the aforementioned decline crossing at 339.44. First support is today's low crossing at 304.50. Second support is last Thursday's low crossing at 300.00.
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