December gold was higher due to short covering overnight as it consolidated some of this month's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the 38% retracement level of the May-October rally crossing at 1697.70 is the next downside target. Closes above the 20-day moving average crossing at 1762.90 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1762.90. Second resistance is this month's high crossing at 1798.10. First support is the overnight low crossing at 1714.40. Second support is the 38% retracement level of the May-October rally crossing at 1697.70.<\/p>\n
December silver was higher due to short covering overnight as it consolidates some of this month's decline. Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the 50% retracement level of the June-October rally crossing at 30.850 is the next downside target. Closes above the 20-day moving average crossing at 33.856 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 33.856. Second resistance is this month's high crossing at 35.445. First support is the overnight low crossing at 31.710. Second support is the 50% retracement level of the June-October rally crossing at 30.850.<\/p>\n
December copper was higher due to short covering overnight as it consolidates some of last Friday's decline. Stochastics and the RSI are diverging but turning bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the 50% retracement level of the June-September rally crossing at 355.15 is the next downside target. Closes above the 20-day moving average crossing at 373.43 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 370.64. Second resistance is the 20-day moving average crossing at 373.43. First support is the overnight low crossing at 361.20. Second support is the 50% retracement level of the June-September rally crossing at 355.15.<\/p>\n
To receive INO.com<\/a>\u2018s Daily Market Analysis & Commentary click here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" December gold was higher due to short covering overnight as it consolidated some of this month's decline. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, the 38% retracement level of the May-October rally crossing at 1697.70 is the next downside target. Closes […]<\/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":[4429],"class_list":["post-16656","post","type-post","status-publish","format-standard","hentry","category-general","tag-morning-commentary"],"yoast_head":"\n