Outlook

April gold closed lower on Monday as it consolidated some of last week's rally. Today's low-range close sets the stage for a
steady to lower opening on Tuesday. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling
that sideways to higher prices are possible near-term. If March extends last week'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 927.00. Second support is the reaction low crossing at 899.50.

March silver closed higher on Monday and posted a new contract high close. The high-range close sets the stage for a steady to
higher opening on Tuesday. 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 18.450 is the next
upside target. Closes below the 20-day moving average crossing at 17.176 are needed to confirm that a short-term top has been
posted. First resistance is last Friday's high crossing at 18.195 then monthly resistance crossing at 18.450. First support is the
10-day moving average crossing at 17.580 then the 20-day moving average crossing at 17.176.

March copper posted a key reversal down on Monday as it consolidated some of this year's rally. The low-range close sets the
stage for a steady to lower opening on Tuesday. 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 364.74 would confirm that a short-term top has
been posted. First resistance is today'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 364.76. Second support is the 20-day moving average crossing at 349.72.

April crude oil closed higher on Monday as it consolidates some of last Thursday's decline. The high-range close sets the stage
for a steady to higher opening on Tuesday. Stochastics and the RSI are overbought and are turning neutral to bearish hinting
that a double top with January's high might be forming. If April extends last week'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
96.65 would confirm that a short-term top has been posted. First resistance is last Wednesday's high crossing at 100.86. First
support is the 10-day moving average crossing at 96.65. Second support is the 20-day moving average crossing at 93.36.

April Henry natural gas closed slightly higher on Monday and spiked above the previous contract high crossing at 9.222. Profit
taking tempered early gains and the low-range close sets the stage for a steady to lower opening on Tuesday. 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 8.817 would confirm that a short-term top has been posted. First resistance is Today's high crossing at
9.391 then monthly resistance crossing at 9.820. First support is the 10-day moving average crossing at 8.816. Second support
is the 20-day moving average crossing at 8.417.

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