Outlook

April gold closed higher on Tuesday and posted a new contract high close. Today's high-range close sets the stage for a steady
to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways
to higher prices are possible near-term. If March extends this month's rally, monthly resistance crossing at 978.50 is the next
upside target. Closes below the reaction low crossing at 899.50 would confirm that a short-term top has been posted. First
resistance is last Thursday's high crossing at 958.40 then monthly resistance crossing at 978.50. First support is the 10-day
moving average crossing at 929.60. Second support is the reaction low crossing at 899.50.

March silver closed sharply higher on Tuesday and posted a new contract high as it extended this winter's rally. The high-range
close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to
bullish signaling that sideways to higher prices are possible near-term. If March extends this winter's rally, monthly resistance
crossing at 19.870 is the next upside target. Closes below the 20-day moving average crossing at 17.281 are needed to confirm
that a short-term top has been posted. First resistance is today's high crossing at 18.865 then monthly resistance crossing at
19.870. First support is the 10-day moving average crossing at 17.716 then the 20-day moving average crossing at 17.281.

March copper closed higher on Tuesday and closed above October's high crossing at 375.00. The high-range close sets the
stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought and are turning bearish hinting that
a double top with October's high might be forming. If March extends this winter's rally, weekly resistance crossing at 387.00 is
the next upside target. Closes below the 10-day moving average crossing at 367.10 would confirm that a short-term top has
been posted. First resistance is Monday's high crossing at 384.95. Second resistance is weekly resistance crossing at 387.00.
First support is the 10-day moving average crossing at 367.10. Second support is the 20-day moving average crossing at
352.19.

April crude oil closed higher on Tuesday as it extends this month's rally above the previous reaction high crossing at 98.50. The
high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought but are
turning neutral to bullish again signaling that sideways to higher prices are possible near-term. If April extends this month's
rally above January's high, upside targets will be hard to project now that April has traded into uncharted territory. Closes
below the 10-day moving average crossing at 97.36 would confirm that a short-term top has been posted. First resistance is
today's high crossing at 101.15. First support is the 10-day moving average crossing at 97.37. Second support is the 20-day
moving average crossing at 93.86.

April Henry natural gas closed higher on Tuesday and closed above the previous contract high crossing at 9.222. Profit taking
tempered early gains and the mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are
overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this
month's rally, monthly resistance crossing at 9.820 is the next upside target. Closes below the 10-day moving average crossing
at 8.883 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 9.391 then monthly
resistance crossing at 9.820. First support is the 10-day moving average crossing at 8.883. Second support is the 20-day
moving average crossing at 8.478.

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