precious metals

COMEX Gold:

Gold trading is higher in ACCESS trade this morning extending the prior sessions gains. Trend indicators have moved from a bullish to a neutral price pattern.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Furthermore the markets trend has changed direction since the previous session. The slope of the moving average is in a downward slope from the previous session indicating weakness. As a result the 10-Day simple moving average has a strong bearish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. However, even though prices are trading below the moving average, the moving average slope is up from the previous session. Should prices continue lower the moving average will eventually follow and then the down trend will be more clearly established. However, this strength in the moving average will need to be watched. As a result the 25-Day simple moving average has a weak bearish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is falling, while the long term trend, based on a 50-Day moving average, is up. However, the weak ADX indicates that the current trend is deteriorating and may possibly reverse. Look for choppiness ahead.


MOMENTUM INDICATORS:

MACD: The MACD is in bearish territory. However, the recent upturn in the difference between the MACD and the MACD signal line may indicate a short term rally over the next few days.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 49.78). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 49.78 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating oversold prices. Volatility also appears to be decreasing, as evidenced by a smaller distance between the upper and lower bands over the past few sessions. The market is oversold and appears to be finding some support near recent lows. Look for a potential bottom in this area.

RESISTANCE AND SUPPORT LEVELS:

848.00 - Highest High in last 50-Days
830.87 - 20-Day Simple Moving Average Plus 2 Standard Deviations
822.80 - Highest High in last 10-Days
819.46 - 20-Day Simple Moving Average Plus 1 Standard Deviation
806.38 - 10-Day Simple Moving Average
804.78 - 25-Day Simple Moving Average
802.90 - High
802.10 - Last Price
799.80 - 3-Day Simple Moving Average
796.65 - 20-Day Simple Moving Average Minus 1 Standard Deviation
795.43 - 50-Day Simple Moving Average
794.70 - Low
789.60 - Lowest Low in last 10-Days
785.24 - 20-Day Simple Moving Average Minus 2 Standard Deviations
749.31 - 100-Day Simple Moving Average
742.80 - Lowest Low in last 50-Days
709.21 - 200-Day Simple Moving Average


Platinum:

Platinum is higher in ACCESS trade this morning extending the prior sessions gains. Trend indicators are indicating a bullish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bullish territory. Also, the market just made a 50-Day new high here, indicating further strength. Look for more new highs.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 10-Day simple moving average has a strong bullish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 25-Day simple moving average has a strong bullish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade above this moving average. Also, the slope of the moving average is in an upward slope from the previous session indicating further strength. As a result the 50-Day simple moving average has a strong bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.


MOMENTUM INDICATORS:

MACD: The MACD is in bullish territory. Also, the market just made a 50-Day new high here, indicating further strength. Look for more new highs.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 66.25). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 66.25 the market is somewhat overbought, but given the 50-Day new high here, greater overbought levels are likely.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating overbought prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. Despite this overbought condition the market may become more overbought before turning lower. Also, given that we posted a 50-Day new high, the chance for further bullish momentum is higher. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.

RESISTANCE AND SUPPORT LEVELS:

1514.30 - High
1514.30 - Highest High in last 50-Days
1514.30 - Highest High in last 10-Days
1509.90 - Last Price
1503.28 - 20-Day Simple Moving Average Plus 2 Standard Deviations
1497.57 - 3-Day Simple Moving Average
1485.91 - 20-Day Simple Moving Average Plus 1 Standard Deviation
1485.00 - Low
1477.84 - 10-Day Simple Moving Average
1464.89 - 25-Day Simple Moving Average
1454.50 - Lowest Low in last 10-Days
1453.53 - 50-Day Simple Moving Average
1451.17 - 20-Day Simple Moving Average Minus 1 Standard Deviation
1433.80 - 20-Day Simple Moving Average Minus 2 Standard Deviations
1378.24 - 100-Day Simple Moving Average
1376.00 - Lowest Low in last 50-Days
1336.05 - 200-Day Simple Moving Average


COMEX Silver:

Silver futures are higher this morning reversing the weaker tone seen during the prior session. Trend indicators are indicating a bearish market and the overall strength of the trend is strong, as indicated by the ADX. Momentum readings are also in bearish territory.

TREND INDICATORS:

Simple Moving Average (10-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 10-Day simple moving average has a strong bearish bias.

Simple Moving Average (25-Day): Recent activity this morning has seen prices trade below this moving average. Also, the slope of the moving average is in a downward slope from the previous session indicating further weakness. As a result the 25-Day simple moving average has a strong bearish bias.

Simple Moving Average (50-Day): Recent activity this morning has seen prices trade below this moving average. However, despite prices trading below the moving average line, the moving average is in an upward slope from the previous session. If prices trade above the moving average then the trend will be clearly established as up. However, this weakness in the price will need to be watched. As a result the 50-Day simple moving average has a weak bullish bias.

ADX: The Average Directional Change (ADX) indicates the strength of a markets underlying trend. A rising ADX is interpreted as building trend strength, while a falling ADX indicates weakness in the underlying trend and the potential of a market reversal. On this market, the 14-Day ADX is rising, while the long term trend, based on a 50-Day moving average, is up. As the ADX is rising it indicates that the current trend is strong and should remain intact. Look for the current trend to continue.


MOMENTUM INDICATORS:

MACD: The MACD is in bearish territory.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 43.45). This indicator issues bullish signals when the RSI line dips below the oversold zone (currently set at 20.00); a bearish signal is generated when the RSI rises into the overbought zone (currently set at 80.00). Nevertheless with the RSI at 43.45 the market is somewhat oversold. However, this by itself isn't a strong enough indication to signal a trade. Look for additional evidence of strength from this indicator before getting too bullish here.

VOLATILITY INDICATORS:

Bollinger Bands (20-Day Average +/-1 Standard Deviation): As prices are closer to the bottom band than the top band, the Bollinger Bands are indicating oversold prices. Volatility also appears to be increasing, as evidenced by a larger distance between the upper and lower bands over the past few sessions. The market is oversold and appears to be finding some support near recent lows. Look for a potential bottom in this area.

RESISTANCE AND SUPPORT LEVELS:

16.275 - Highest High in last 50-Days
15.121 - 20-Day Simple Moving Average Plus 2 Standard Deviations
14.975 - Highest High in last 10-Days
14.812 - 20-Day Simple Moving Average Plus 1 Standard Deviation
14.511 - 25-Day Simple Moving Average
14.443 - 10-Day Simple Moving Average
14.401 - 50-Day Simple Moving Average
14.194 - 20-Day Simple Moving Average Minus 1 Standard Deviation
14.160 - High
14.105 - Last Price
14.023 - 3-Day Simple Moving Average
13.930 - Low
13.885 - 20-Day Simple Moving Average Minus 2 Standard Deviations
13.740 - Lowest Low in last 10-Days
13.603 - 100-Day Simple Moving Average
13.446 - 200-Day Simple Moving Average
13.325 - Lowest Low in last 50-Days


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