Bullion

COMEX Gold:

Gold trading is weaker in ACCESS trade this morning reversing the firmer tone seen during the prior session. 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 bullish. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline over the next few days and should be watched. A bearish key reversal off a 10-Day new high here should confirm this bearish outlook.

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. However, the recent downturn in the difference between the MACD and the MACD signal line may indicate a short term decline over the next few days. A bearish key reversal off a 10-Day new high here should confirm this bearish outlook.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 75.65). 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 75.65 the market is somewhat overbought suggesting a possible market decline. Further, a bearish key reversal off a 10-Day new high here makes a downturn in the market even more 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. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.

RESISTANCE AND SUPPORT LEVELS:

904.81 - 20-Day Simple Moving Average Plus 2 Standard Deviations
899.90 - Highest High in last 50-Days
899.90 - Highest High in last 10-Days
899.90 - High
893.00 - Last Price
890.30 - Low
889.43 - 3-Day Simple Moving Average
872.32 - 20-Day Simple Moving Average Plus 1 Standard Deviation
868.61 - 10-Day Simple Moving Average
834.13 - 25-Day Simple Moving Average
828.30 - Lowest Low in last 10-Days
821.23 - 50-Day Simple Moving Average
807.34 - 20-Day Simple Moving Average Minus 1 Standard Deviation
777.04 - 100-Day Simple Moving Average
774.85 - 20-Day Simple Moving Average Minus 2 Standard Deviations
773.40 - Lowest Low in last 50-Days
724.48 - 200-Day Simple Moving Average

COMEX Silver:

Silver futures are weaker this morning reversing the firmer tone seen during the prior session. 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. However, the market just signaled a bearish key reversal off a 10-Day new high, indicating potential weakness to come.

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. However, the market just signaled a bearish key reversal off a 10-Day new high, indicating potential weakness to come.

RSI: The 14-Day RSI is in neutral territory. (RSI is at 73.27). 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 73.27 the market is somewhat overbought suggesting a possible market decline. Further, a bearish key reversal off a 10-Day new high here makes a downturn in the market even more 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. As a result, the market will look for additional weakening in prices before turning bearish on this indicator.

RESISTANCE AND SUPPORT LEVELS:

16.415 - High
16.415 - Highest High in last 50-Days
16.415 - Highest High in last 10-Days
16.369 - 20-Day Simple Moving Average Plus 2 Standard Deviations
16.210 - Last Price
16.155 - Low
16.108 - 3-Day Simple Moving Average
15.665 - 20-Day Simple Moving Average Plus 1 Standard Deviation
15.550 - 10-Day Simple Moving Average
14.916 - 25-Day Simple Moving Average
14.811 - 50-Day Simple Moving Average
14.730 - Lowest Low in last 10-Days
14.257 - 20-Day Simple Moving Average Minus 1 Standard Deviation
14.016 - 100-Day Simple Moving Average
13.740 - Lowest Low in last 50-Days
13.604 - 200-Day Simple Moving Average
13.553 - 20-Day Simple Moving Average Minus 2 Standard Deviations

MCXARUN
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