OUT LOOK

February gold closed slightly higher on Monday as it consolidated some of last Friday's decline but remains below the 10-day
moving average crossing at 806.80. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the
RSI remain bearish signaling that sideways to lower prices are possible near-term. If February extends last week's decline,
November's low crossing at 780.40 is the next downside target. Closes above last Wednesday's high crossing at 822.80 would
renew the rally off November's low. From a broad perspective, February gold needs to close above 855.00 or below 780.40 to
confirm a breakout of the late-fall trading range and point the direction of the next trending move. First resistance is the 20-day
moving average crossing at 806.80 then last Wednesday's high crossing at 822.80. First support is today's low crossing at
789.60 then the reaction low crossing at 783.00.

March silver closed higher on Monday and as it consolidated some of last week's decline. The high-range close sets the stage for
a steady to higher opening on Tuesday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible
near-term. Closes below the reaction low crossing at 13.960 would open the door for a possible test of October's low crossing
at 13.360 later this winter. Closes above the 20-day moving average crossing at 14.544 would signal that a short-term low has
been posted. First resistance is the 20-day moving average crossing at 14.544 then last Tuesday's high crossing at 14.975. First
support is today's low crossing at 13.640 then October's low crossing at 13.360.

January crude oil closed lower on Monday as it extended the decline off last week's high. The low-range close sets the stage for
a steady to lower opening on Tuesday. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices
are possible near-term. Closes below the 10-day moving average crossing at 90.01 would temper the near-term friendly outlook
in the market. If January renews last week's rally, the reaction high crossing at .9768 is the next upside target. A close below
the reaction low crossing at .8582 would renew the decline off November's high. First resistance is the 20-day moving average
crossing at 92.10. Second resistance is last Thursday's high crossing at 94.85. First support is today's low crossing at 89.49
then the 38% retracement level of this year's rally crossing at .8741.


January Henry natural gas closed slightly higher on Monday as it consolidated some of last week's decline but remains below
the 10-day moving average crossing at 7.161. The high-range close sets the stage for a steady to higher opening on Tuesday.
Stochastics and the RSI are neutral signaling that sideways to lower prices are possible near-term. If January extends the decline
off November's high, weekly support crossing at 6.801 is the next downside target. Closes above the 20-day moving average
crossing at 7.422 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average
crossing at 7.161 then the 20-day moving average crossing at 7.422. First support is Today's low crossing at 6.914 then weekly
support crossing at 6.801.