Will Gold Break $1000 Soon?

PRECIOUS METALS
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August gold closed sharply higher on Friday and above the previous reaction high crossing at 950.00 thereby renewing the rally off June's low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. If August extends this week's rally, the reaction high crossing at 1001.20 is the next upside target. Closes below the 20-day moving average crossing at 917.90 would confirm that a short-term top has been posted. First resistance is today's high crossing at 969.10. Second resistance is the reaction high crossing at 1001.20. First support is the 10-day moving average crossing at 937.70. Second support is the 20-day moving average crossing at 918.00.
September silver closed higher on Friday and above trading range resistance crossing at 18.845. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If September extends this week's rally, the 62% retracement level of the March-May decline crossing at 19.364 is the next upside target. Closes below the 20-day moving average crossing at 17.716 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 18.980. Second resistance is the 62% retracement level crossing at 19.364. First support is the 10-day moving average crossing at 18.210. Second support is the 20-
day moving average crossing at 17.715.

September copper closed higher on Friday due to short covering as it consolidated some of this week's decline but remains below the 20-day moving average crossing at 380.93. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If September extends this week's decline, June's low crossing at 351.00 is the next downside target. Closes above the 10-day moving average crossing at 384.45 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 380.93. Second resistance is the 10-day moving average crossing at 384.45. First support is Wednesday's low crossing at 364.20. Second support is June's low crossing at 351.00. FOOD & FIBER http://quotes.ino.com/exchanges/?c=food

all the best
Bill