outlook

February gold closed higher on Thursday and the high-range close sets the stage for a steady to higher opening on Friday.
Stochastics and the RSI are bullish hinting that a double bottom with November's low appears to be forming. Closes above the
20-day moving average crossing at 808.60 would confirm that a short-term low has been posted. If December extends last
week's decline, November's low crossing at 780.40 is the next downside target. First resistance is Wednesday's high crossing at
813.00 then the reaction high crossing at 844.20. First support is Monday's low crossing at 783.00 then November's low
crossing at 780.40.

March silver closed higher on Thursday and the high-range close sets the stage for a steady to higher opening on Friday.
Stochastics and the RSI have turned bullish signaling that a short-term low is in or is near. Closes above the 20-day moving
average crossing at 14.704 are needed to confirm that a short-term low has been posted. If March extends last month's decline,
the reaction low crossing at 13.500 is the next downside target. First resistance is the 20-day moving average crossing at 14.704
then the reaction high crossing at 15.220. First support is Monday's low crossing at 13.960 then the reaction low crossing at
13.500.

January crude oil closed higher on Thursday as it consolidates above the 38% retracement level of this fall's rally crossing at
.8741. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold but
remain neutral to bearish signaling that sideways to lower prices are possible near-term. If January extends the decline, the 50%
retracement level of this fall's rally crossing at .8374 is the next downside target. Closes above the 20-day moving average
crossing at 93.01 would temper the near-term bearish outlook. First resistance is the 25% retracement level crossing at 91.51.
Second resistance is the 10-day moving average crossing at 91.60. First support is today's low crossing at 85.82 then the 50%
retracement level crossing at .8374.

anuary Henry natural gas closed higher on Thursday as it consolidates some of this week's decline but remains below broken
support marked by September's low crossing at 7.561. The mid-range close sets the stage for a steady opening on Friday.
Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-
term. If January extends the decline off November's high, weekly support crossing at 6.801 is the next downside target. Closes
above the 10-day moving average crossing at 7.499 would confirm that a short-term low has been posted. First resistance is the
10-day moving average crossing at 7.499 then the 20-day moving average crossing at 7.813. First support is Monday's low
crossing at 7.038 then weekly support crossing at 6.801.