December Gold Extends Weeks Rally

PRECIOUS METALS

http://quotes.ino.com/exchanges/?c=metals 

December gold was higher overnight as it extends this week's rally into uncharted territory. Continued weakness in the U.S. Dollar along with fears of inflation continues to underpin this week's rally. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. As December extends this week's rally into uncharted territory, upside targets will be hard to project. Closes below the reaction low crossing at 985.50 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 1059.60. First support is the 10-day moving average crossing at 1015.20. Second support is the reaction low crossing at 985.50. 

December silver was higher overnight and is trading above September's high crossing at 17.690 thereby renewing the rally off July's low. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If December extends this week's rally, the 75% retracement level of 2008's decline crossing at 18.180 is the next upside target. Closes below the reaction low crossing at 15.760 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 17.930. Second resistance is the 75% retracement level of 2008's decline crossing at 18.180. First support is the 20-day moving average crossing at 16.810. Second support is the 10-day moving average crossing at 16.693. 

December copper was higher overnight and trading above the 20-day moving average crossing at 279.44. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 279.44 would confirm that a short-
term low has been posted. 


Closes above the reaction high crossing at 298.95 or below 266.00 are needed to confirm a breakout of the current trading range and point the direction of the next trending move. First resistance is the overnight high crossing at 287.00. Second resistance is the reaction high crossing at 295.50. First support is the 10-day moving average crossing at 275.88. Second support is last Friday's low crossing at 264.00.

Google, Gold and Crude Oil

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President, INO.com
Co-Creator, MarketClub

What the Heck is Going on with Gold?

Subject: What the heck is going on with Gold?

Dear Trader,

Gold at the moment is perplexing to a great many traders. To many it was a shock when gold recently traded below the $700 an ounce level. So the question is, what happened to the $2,000 an ounce target that most gold bugs were calling for?

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Adam Hewison

President INO.com and Co-creator of INO.com

Gold Is Positioned For Blastoff

Is gold ready to skyrocket?

Hi, this is Adam Hewison. I have just finished a new video on gold that I would like you to see. This new video deals with some of the strange events that we've been going through the past two or three weeks, or in some cases several months.

Latest Gold Video

I know most of the gold bugs have been disappointed that their favorite yellow metal hasn't skyrocketed to new highs. Some people said that we'd hit two to three thousand dollars an ounce when gold topped the one thousand mark a few months ago. I'm not sure that we will see levels like that, but the reality is, we could be seeing more interest come into this market which could push it higher.

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Latest Gold Video

Best of luck in life and trading,

Adam Hewison
President, INO.com
Co-creator, MarketClub

Will Gold Break $1000 Soon?

PRECIOUS METALS
http://quotes.ino.com/exchanges/?c=metals

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