Bullion

COMEX Gold:

Gold trading is higher in ACCESS trade this morning reversing the weaker 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. 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 71.93). 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 71.93 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:

878.80 - High
878.80 - Highest High in last 50-Days
878.80 - Highest High in last 10-Days
878.59 - 20-Day Simple Moving Average Plus 2 Standard Deviations
875.90 - Last Price
867.87 - 3-Day Simple Moving Average
859.40 - Low
853.63 - 20-Day Simple Moving Average Plus 1 Standard Deviation
849.12 - 10-Day Simple Moving Average
823.46 - 25-Day Simple Moving Average
815.29 - 50-Day Simple Moving Average
811.60 - Lowest Low in last 10-Days
803.70 - 20-Day Simple Moving Average Minus 1 Standard Deviation
778.74 - 20-Day Simple Moving Average Minus 2 Standard Deviations
773.40 - Lowest Low in last 50-Days
770.31 - 100-Day Simple Moving Average
721.17 - 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 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 67.37). 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 67.37 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:

16.275 - Highest High in last 50-Days
15.737 - 20-Day Simple Moving Average Plus 2 Standard Deviations
15.620 - Highest High in last 10-Days
15.620 - High
15.595 - Last Price
15.449 - 3-Day Simple Moving Average
15.255 - Low
15.249 - 20-Day Simple Moving Average Plus 1 Standard Deviation
15.126 - 10-Day Simple Moving Average
14.704 - 50-Day Simple Moving Average
14.699 - 25-Day Simple Moving Average
14.455 - Lowest Low in last 10-Days
14.273 - 20-Day Simple Moving Average Minus 1 Standard Deviation
13.881 - 100-Day Simple Moving Average
13.785 - 20-Day Simple Moving Average Minus 2 Standard Deviations
13.740 - Lowest Low in last 50-Days
13.561 - 200-Day Simple Moving Average

MCXARUN
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