OUT LOOK

April gold posted an inside day with a higher close on Thursday as it consolidates above the previous reaction high crossing at
922.50. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought
but remain neutral to bullish signaling that additional gains are possible near-term. If March extends this winter's rally, monthly
resistance crossing at 950.00 is the next upside target. Closes below the 20-day moving average crossing at 900.60 would
confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 942.20 then monthly resistance
crossing at 950.00. First support is the 10-day moving average crossing at 910.60 then the 20-day moving average crossing at
900.60.

March silver closed higher on Friday as it extended this week's rally above the previous reaction high crossing at 16.715. The
high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain
neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low,
weekly resistance crossing at 17.500 is the next upside target. Closes below the 20-day moving average crossing at 16.180 are
needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 17.090 then month
resistance crossing at 17.500. First support is the 10-day moving average crossing at 16.443 then the 20-day moving average
crossing at 16.180.

March copper closed higher on Thursday as it extended Tuesday's rally above the 20-day moving average. The high-range close
sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signaling that sideways to higher
prices are possible near-term. If March extends this week's rally, the reaction high crossing at 336.00 is the next upside target.
First resistance is today's high crossing at 332.25. Second resistance is the reaction high crossing at 336.00. First support is
today's low crossing at 319.90. Second support is Monday's low crossing at 311.65.

March crude oil closed lower on Thursday as it consolidated some of the rally off last week's low. The high-range close sets the
stage for a steady to higher opening on Friday. Stochastics and the RSI remain bullish signaling that sideways to higher prices
are possible near-term. Closes above the 20-day moving average crossing at 92.32 are needed to confirm that a short-term low
has been posted. If March renews this month's decline, December's low crossing at 85.37 is the next downside target. First
resistance is the 20-day moving average crossing at 92.32. Second resistance is Wednesday's high crossing at 92.71. First
support is the 10-day moving average crossing at 90.22. Second support is Monday's low crossing at 88.78.

March Henry natural gas closed higher on Thursday as it extends this week's breakout above the 20-day moving average
crossing at 7.966. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are
neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last week's low,
this month's high crossing at 8.397 is the next upside target. Closes below last week's low crossing at 7.534 would renew the
decline off this month's high. First resistance is today's high crossing at 8.130 then this month's high crossing at 8.397. First
support is Tuesday's low crossing at 7.848. Second support is last week's low crossing at 7.534.

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