August gold closed higher due to short covering on Monday as it consolidated some of last Friday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August renews the decline off June's high, May's low crossing at 1529.30 is the next downside target. If August renews the rally off June's low, June's high crossing at 1642.40 is the next upside target. First resistance is June's high crossing at 1642.40. Second resistance is reaction high crossing at 1674.30. First support is June's low crossing at 1547.60. Second support is May's low crossing at 1529.30. <\/p>\n
September silver closed higher due to short covering on Monday as it consolidated some of lat week's decline. The high-range close set the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning bearish signaling that sideways to lower prices are possible near-term. If September renews this year's decline, weekly support crossing at 24.689 is the next downside target. If September renews the rally off June's low, June's high crossing at 29.915 is the next upside target. First resistance is the reaction high crossing at 29.135. Second resistance is June's high crossing at 29.915. First support is June's low crossing at 26.105. Second support is weekly support crossing at 24.689.<\/p>\n
September copper closed higher due to short covering on Monday as it consolidated some of last Friday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 339.18 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If September resumes this spring's decline, the 87% retracement level of the October-February rally crossing at 320.07 is the next downside target. If September renews the rally off June's low, the 50% retracement level of this year's decline crossing at 362.77 is the next upside target. First resistance is last Tuesday's high crossing at 355.65. Second resistance is the 50% retracement level of this year's decline crossing at 362.77. First support is June's low crossing at
\n325.00. Second support is the 87% retracement level of the October-February rally crossing at 320.07.<\/p>\n
To receive INO.com<\/a>\u2018s Daily Market Analysis & Commentary click here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" August gold closed higher due to short covering on Monday as it consolidated some of last Friday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2082,4423,23,307,294],"class_list":["post-15182","post","type-post","status-publish","format-standard","hentry","category-general","tag-copper","tag-daily-market-analysis-commentary","tag-gold","tag-precious-metals","tag-silver"],"yoast_head":"\n