outlook

February gold closed higher on Monday and above moving average resistance. The high-range close sets the stage for a steady
to higher opening on Tuesday. Stochastics and the RSI remain neutral to bullish hinting that a double bottom with November's
low appears to be forming. Today's close above the reaction high crossing at 813.00 confirms that a short-term low has been
posted while opening the door for a possible test of the reaction high crossing at 844.20 later this month. Closes below
November's low crossing at 780.40 would renew the decline off last month's high while opening the door for a larger-degree
decline into the end of the year. First resistance is today's high crossing at 818.00 then the reaction high crossing at 844.20.
First support is last Thursday's low crossing at 790.90 then last Monday's low crossing at 783.00.

March silver closed higher on Monday and above the 20-day moving average crossing at 14.636 confirming that a short-term
low has been posted. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI
remain bullish signaling that sideways to higher prices are possible near-term. If March extends today's rally, the reaction high
crossing at 15.220 is the next upside target. First resistance is today's high crossing at 14.895 then the reaction high crossing at
15.220. First support is today's low crossing at 14.500 then last Thursday's low crossing at 14.125.

anuary crude oil closed lower on Monday as it extends last week's trading range but remains above the 38% retracement level
of this fall's rally crossing at .8741. The low-range close sets the stage for a steady to lower opening on Tuesday. 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, 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 92.36 would temper the near-term bearish outlook. First resistance
is the 10-day moving average crossing at 89.59. Second resistance is the 25% retracement level crossing at 91.51. First support
is today's low crossing at 87.20 then last Thursday's low crossing at .85.82.

January Henry natural gas closed lower on Monday as it extended the decline off November's high. The mid-range close sets the
stage for a steady opening on Tuesday. 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 20-day moving average crossing at 7.690 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at 7.313 then the 20-day moving average crossing
at 7.690. First support is today's low crossing at 6.950 then weekly support crossing at 6.801.