Summary
The Dow Future has advanced 18 points to 30323. The US Dollar Index advanced 0.025 points to 89.847. Gold is up 1.37 dollars to 1886.22. Silver is trending higher 0.0465 dollars to 25.9005. The Dow Industrials gained 148.83 points, at 30303.37, while the S&P 500 edged higher by 21.31 points, last seen at 3722.48. The Nasdaq Composite moved higher by 106.56 points to 12764.75. Streaming charts of these markets are available at MarketClub
Key Events for Friday
8:30 AM ET. 3rd Quarter International Transactions Current Account (USD) (expected -186.9B; previous -170.5B) 10:00 AM ET. November Leading Indicators Leading Index, M/M% (expected +0.5%; previous +0.7%) Leading Index (previous 108.2) Coincident Index, M/M% (previous +0.5%) Lagging Index, M/M% (previous +0.1%) 10:00 AM ET. November State Employment and 8:30 AM ET. November CFNAI Chicago Fed National Activity Index NAI (previous 0.83) NAI, 3-mo Moving Avg (previous 0.75)
CURRENCIES:http://quotes.ino.com/ex changes/?c=currencies" The March Dollar closed lower on Thursday as it extends the decline off September's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold and neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this year's decline, monthly support crossing at 88.15 is the next downside target. Closes above the 20-day moving average crossing at 91.14 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 90.58. Second resistance is the 20-day moving average crossing at 91.14. First support is today's low crossing at 89.64. Second support is monthly support crossing at 88.15. The March Euro closed sharply higher on Thursday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at 125.39 is the next upside target. Closes below the 20-day moving average crossing at 120.84 would signal that a short-term top has been posted. First resistance is today's high crossing at 123.04. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at 125.39. First support is last-Wednesday's low crossing at 120.90. Second support is the 20-day moving average crossing at 120.84. The March British Pound closed higher on Thursday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. 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 the rally off September's low, the February-2019 high crossing at 1.3728 is the next upside target. Closes below the 50-day moving average crossing at 1.3198 would open the door for additional weakness and a possible test of November's low crossing at 1.2876. First resistance is today's high crossing at 1.3643. Second resistance is the February-2019 high crossing at 1.3728. First support is the 20-day moving average crossing at 1.3387. Second support is the 50-day moving average crossing at 1.3198. The March Swiss Franc closed slightly higher on Thursday as it spiked to a new high for the year in early-trading. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. 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, the September-2019 high crossing at 1.1408 is the next upside target. Closes below the 20-day moving average crossing at 1.1191 would signal that a short-term top has been posted. First resistance is today's high crossing at 1.1371. Second resistance is the September-2019 high crossing at 1.1408. First support is the 10-day moving average crossing at 1.1298. Second support is the 20-day moving average crossing at 1.1191. The March Canadian Dollar closed slightly higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, the October-2018 high crossing at 79.09 is the next upside target. Closes below the 20-day moving average crossing at 77.68 would confirm that a short-term top has been posted. First resistance is today's high crossing at 78.87. Second resistance is the October-2018 high crossing at 79.09. First support is the 10-day moving average crossing at 78.38. Second support is the 20-day moving average crossing at 77.68. The March Japanese Yen closed higher on Thursday and above the 75% retracement level of March's decline crossing at 0.0971. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 87% retracement level of March's decline crossing at 0.0981 is the next upside target. Closes below the 20-day moving average crossing at 0.0963 would signal that a short-term top has been posted. First resistance is Today's high crossing at 0.0974. Second resistance is the 87% retracement level of March's decline crossing at 0.0981. First support is the 20-day moving average crossing at 0.0963. Second support is the 50-day moving average crossing at 0.0958.
February crude oil closed higher on Thursday as it continues to extend the rally off November's low. Crude oil posted a nine-month high in anticipated of an economic boost in the U.S. due to a falling dollar. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $52.41 is the next upside target. Closes below the 20-day moving average crossing at $45.55 would signal that a short-term top has been posted. First resistance is today's high crossing at $48.59. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $52.41. First support is the 20-day moving average crossing at $45.55. Second support is December's low crossing at $43.92. February heating oil closed higher on Thursday as it extends the rally off November's low. The high-range close sets the stage for a steady higher opening when Friday's night trading session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off November's low, the 38% retracement level of the 2018-2020-decline crossing at $152.86 is the next upside target. Closes below the 20-day moving average crossing at $139.91 would signal that a short-term top has been posted. First resistance is today's high crossing at $150.21. Second resistance is the 38% retracement level of the 2018-2020-decline crossing at $152.86. First support is the 10-day moving average crossing at $144.18. Second support is the 20-day moving average crossing at $139.91. February unleaded gas closed higher on Thursday and above the 50% retracement level of the 2018-2020-decline crossing at $136.88 as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at $152.11 is the next upside target. Closes below the 20-day moving average crossing at $127.37 would signal that a short-term top has been posted. First resistance is today's high crossing at $138.17. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at $152.11. First support is the 20-day moving average crossing at 127.37. Second support is the 50-day moving average crossing at $119.12. February Henry natural gas closed lower on Thursday as it consolidated some of the rally off last-Tuesday's low. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 2.686 are needed to confirm that a short-term low has been posted. If February renews the decline off November's high, weekly support crossing at 2.179 is the next downside target. First resistance is the 20-day moving average crossing at 2.686. Second resistance is the 38% retracement level of the October-December-decline crossing at 2.797. First support is last-Tuesday's low crossing at 2.393. Second support is weekly support crossing at 2.179. CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies "" The March Dollar closed lower on Thursday as it extends the decline off September's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold and neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this year's decline, monthly support crossing at 88.15 is the next downside target. Closes above the 20-day moving average crossing at 91.14 would signal that a short-term low has been posted. First resistance is the 10-day moving average crossing at 90.58. Second resistance is the 20-day moving average crossing at 91.14. First support is today's low crossing at 89.64. Second support is monthly support crossing at 88.15. The March Euro closed sharply higher on Thursday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 62% retracement level of the 2018-2020-decline crossing at 125.39 is the next upside target. Closes below the 20-day moving average crossing at 120.84 would signal that a short-term top has been posted. First resistance is today's high crossing at 123.04. Second resistance is the 62% retracement level of the 2018-2020-decline crossing at 125.39. First support is last-Wednesday's low crossing at 120.90. Second support is the 20-day moving average crossing at 120.84. The March British Pound closed higher on Thursday as it extends the rally off September's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. 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 the rally off September's low, the February-2019 high crossing at 1.3728 is the next upside target. Closes below the 50-day moving average crossing at 1.3198 would open the door for additional weakness and a possible test of November's low crossing at 1.2876. First resistance is today's high crossing at 1.3643. Second resistance is the February-2019 high crossing at 1.3728. First support is the 20-day moving average crossing at 1.3387. Second support is the 50-day moving average crossing at 1.3198. The March Swiss Franc closed slightly higher on Thursday as it spiked to a new high for the year in early-trading. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. 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, the September-2019 high crossing at 1.1408 is the next upside target. Closes below the 20-day moving average crossing at 1.1191 would signal that a short-term top has been posted. First resistance is today's high crossing at 1.1371. Second resistance is the September-2019 high crossing at 1.1408. First support is the 10-day moving average crossing at 1.1298. Second support is the 20-day moving average crossing at 1.1191. The March Canadian Dollar closed slightly higher on Thursday. The mid-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, the October-2018 high crossing at 79.09 is the next upside target. Closes below the 20-day moving average crossing at 77.68 would confirm that a short-term top has been posted. First resistance is today's high crossing at 78.87. Second resistance is the October-2018 high crossing at 79.09. First support is the 10-day moving average crossing at 78.38. Second support is the 20-day moving average crossing at 77.68. The March Japanese Yen closed higher on Thursday and above the 75% retracement level of March's decline crossing at 0.0971. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 87% retracement level of March's decline crossing at 0.0981 is the next upside target. Closes below the 20-day moving average crossing at 0.0963 would signal that a short-term top has been posted. First resistance is Today's high crossing at 0.0974. Second resistance is the 87% retracement level of March's decline crossing at 0.0981. First support is the 20-day moving average crossing at 0.0963. Second support is the 50-day moving average crossing at 0.0958.
March coffee closed unchanged on Thursday as it consolidates some of the rally off November's low. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 87% retracement level of the September-November decline crossing at 13.17 is the next upside target. Closes below the 20-day moving average crossing at 12.07 are needed to confirm that a short-term top has been posted. March cocoa closed higher on Thursday as it consolidates some of the decline off November's high. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off November's high, the 50-day moving average crossing at 24.95 is the next downside target. Closes above the 20-day moving average crossing at 26.47 would signal that a short-term low has been posted. March sugar closed higher on Thursday as it consolidates some of the decline off November's high. The high-range close set the stage for a steady to higher opening on Friday. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Thursday's high crossing at 15.07 would confirm that a short-term low has been posted. If March extends Monday's decline, the October 30th low crossing at 13.94 is the next downside target. March cotton closed sharply higher on Thursday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off April's low, the July-2018 high crossing at 79.56 is the next upside target. Closes below the 20-day moving average crossing at 73.22 would confirm that a short-term top has been posted.
March Corn closed up $0.05-cents at $4.32 1/4. March corn closed higher on Thursday as it broke out to the topside of this month's trading range. A falling U.S. Dollar along with strong export corn sales that came in 40% above the prior four-week average and extended all pre-report trade estimates unpinned today's rally. Corn export sales came in at 75.9 million bushels last week bringing cumulative totals for the 2020/21 marketing year to 474.5 million bushels, which is well above last year's pace for this time of year. The high-range close sets the stage for a steady to higher opening when Friday's night sessions begins trading. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off April's low, weekly resistance marked by the June-2016 high crossing at $4.43 1/2 is the next upside target. Closes below the December 2nd low crossing at $4.14 1/2 would signal that a short-term top has been posted. First resistance is November's high crossing at $4.39 1/2. Second resistance is the June-2016 high crossing at $4.43 1/2 is the next upside target. First support is the December 2nd low crossing at $4.14 1/2. Second support is the October 29th low crossing at $3.96. March wheat closed up $0.10 3/4-cents at $6.09 1/4. March wheat closed higher on Thursday due to spillover strength from corn and soybeans. However, Wheat export sales were 12% lower week-over-week at 19.9 million bushels of old-crop wheat. New-crop wheat sales were 771,000 bushels, which was on the high end of trade estimates. Year-to-date sales for the 2020/21 marketing year have fallen slightly behind last year's pace, with 483.6 million bushels. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off last-Monday's low, November's high crossing at $6.28 3/4 is the next upside target. Closes below the 10-day moving average crossing at $5.92 1/2 would signal that a short-term top has been posted. First resistance is the November 25th high crossing at $6.22 3/4. Second resistance is November's high crossing at $6.28 3/4. First support is the 50% retracement level of the June-November-rally crossing at $5.71. Second support is the 62% retracement level of the June-October-rally crossing at $5.55. March Kansas City Wheat closed up $0.08-cents at $5.69 1/2. March Kansas City wheat posted an inside day with a higher close on Wednesday as it consolidated some of Monday's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March resumes last-week's rally, the 87% retracement level of the 2018-2020 decline crossing at $6.12 is the next upside target. Closes below the 20-day moving average crossing at $5.56 1/2 would signal that a short-term top has been posted. First resistance is the 75% retracement level of the 2018-2020 decline crossing at crossing at $5.87 1/4. Second resistance is the 87% retracement level of the 2018-2020 decline crossing at $6.12. First support is the 20-day moving average crossing at $5.56 1/2. Second support is last-Monday's low crossing at $5.30 3/4. March Minneapolis wheat closed up $0.08 1/4-cents at $5.67. March Minneapolis wheat closed higher on Thursday as it consolidated some of Monday's decline. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible. If March renews last-week's rally, November's high crossing at $5.86 is the next upside target. Closes below the 10-day moving average crossing at crossing at $5.57 1/4 would confirm that a short-term top has been posted. First resistance is last-Friday's high crossing at crossing at $5.74. Second resistance is November's high crossing at $5.86. First support is the 10-day moving average crossing at crossing at $5.57 1/4. Second support is last-Wednesday's low crossing at $5.42 1/2. SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains " January soybeans closed up $0.17 3/4-cents at $12.05 3/4. January soybeans closed higher on Thursday due to strong soybean export sales that were 62% higher week-over-week and 20% above the prior four-week average. Old crop sales came in at 33.9 million bushels with another 3.5 million bushels of new crop sales. Today's sales came in above all trade estimates, which ranged between 14.7 million and 33.1 million bushels. Cumulative totals soybean sales for the 2020/21 marketing year are now at 1.191 billion bushels, which is far beyond last year's pace of 692.1 million bushels. Today's rally fell fractionally short of testing monthly resistance marked by the June-2016 high crossing at $12.08 1/2. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above monthly resistance marked by the June-2016 high crossing at $12.08 1/2 would open the door for a possible run at the 50% retracement level of the 2012-2019-decline crossing at $12.89 1/2 later this winter. Closes below December's low crossing at $11.42 1/2 would confirm that a short-term top has been posted while opening the door for a possible test of the 50-day moving average crossing at $11.19 later this month. First resistance is November's high crossing at $12.00. Second resistance is monthly resistance marked by the June-2016 high crossing at $12.08 1/2. First support is December's low crossing at $11.42 1/2. Second support is the 50-day moving average crossing at $11.17 3/4. March soybean meal closed up $4.00 to $397.90. March soybean meal closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March renews the rally off August's low, monthly resistance crossing at $404.90 is the next upside target. Closes below the 50-day moving average crossing at $375.30 would confirm that a short-term top has been posted. First resistance is November's high crossing at $398.80. Second resistance is monthly resistance crossing at $404.90. First support is last-Tuesday's low crossing at $377.80. Second support is the 50-day moving average crossing at $375.30. March soybean oil closed down 68-pts. at 39.40. March soybean oil closed higher on Thursday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off October's low, monthly resistance crossing at 41.25 is the next upside target. Closes below the December 2nd low crossing at 36.42 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. First resistance is today's high crossing at 39.53. Second resistance is monthly resistance crossing at 41.25. First support is the December 2nd low crossing at 36.42. Second support is the 50-day moving average crossing at 35.79.
The Dow closed higher on Thursday underpinned by a roughly $900 billion stimulus bill from Congress, Covid-19 vaccine optimism, and confidence that ultra-easy monetary policy will continue into the foreseeable future. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 29,927.96 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 30,325.79. Second resistance is unknown. First support is the 20-day moving average crossing at 29,927.96. Second support is the November 12th low crossing at 28,902.13. The March NASDAQ 100 closed higher on Thursday as it renewed the rally off September's low into uncharted territory. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off September's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 12,364.91 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 12,762.50. Second resistance is unknown. First support is the 20-day moving average crossing at 12,364.91. Second support is the 50-day moving average crossing at 11,970.45. The March S&P 500 closed higher due to a falling U.S. Dollar on Wednesday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3637.86 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 3712.49. Second resistance is unknown. First support is the 20-day moving average crossing at 3637.86. Second support is the 50-day moving average crossing at 3522.89.
March T-bonds closed down 13/32's at 172-17. March T-bonds closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off the November 20th high, November's low crossing at 170-22 is the next downside target. Closes above the 50-day moving average crossing at 174-05 would confirm that a low has been posted while opening the door for a possible test of November's high crossing at 177-06. First resistance is the 50-day moving average crossing at 174-05. Second resistance is November's high crossing at 177-06. First support is the December 4th low crossing at 171-04. Second support is November's low crossing at 170-22. March T-notes closed down 20-pts. at 137.265. March T-notes closed lower on Thursday as it consolidates some of the rally off the December 4th low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Multiple closes below the 10-day moving average crossing at 137.263 would temper the near-term friendly outlook. Closes above last-Friday's high crossing at 138.070 would open the door for a possible test of November's high crossing at 138.300. First resistance is last-Friday's high crossing at 138.070. Second resistance is November's high crossing at 138.300. First support is the December 4th low crossing at 137.075. Second support is November's low crossing at 136.265.
February hogs closed down $0.58 at $65.40. February hogs closed lower on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If February resumes this month's decline, November's low crossing at $62.75 is the next downside target. Closes above the 50-day moving average crossing at $67.08 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at $66.23. Second resistance is the 50-day moving average crossing at $67.08. First support is November's low crossing at $62.75. Second support is September's crossing at $61.55. February cattle closed up $0.73 at $114.50 February cattle closed higher on Thursday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends this week's rally, the November 24th high crossing at $114.70 is the next upside target. Closes below the 50-day moving average crossing at $111.90 would signal that a short-term top has been posted. If First resistance is the November 24th high crossing at $114.70. Second resistance is November's high crossing at $115.45. First support is the December 8th low crossing at $110.55. Second support is the November 20th low crossing at $109.00.
February gold closed sharply higher on Thursday due to the decline in the U.S. dollar along with the Federal Reserve's ongoing loose monetary policy. Additional support came from expectations for a new fiscal stimulus package from congress that led to gold's highest close in nearly six-weeks. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If February extends the rally off November's low, November's high crossing at $1973.30 is the next upside target. If February renews the decline off November's high, the 50% retracement level of the March-August-rally crossing at $1711.10 is the next downside target. First resistance is the November 16th high crossing at $1904.30. Second resistance is November's high crossing at $1973.30. First support is Monday's low crossing at $1820.00. Second support is November's low crossing at $1767.20. March silver closed higher on Thursday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above November's high crossing at 26.270 would open the door for a possible test of the September 15th high crossing at 28.015. Closes below last-Monday's low crossing at 23.630 would signal that a short-term top has been posted. First resistance is today's high crossing at 26.305. Second resistance is the September 15th high crossing at 28.015. First support is last-Monday's low crossing at 23.630. Second support is November's low crossing at 21.960. March copper closed higher on Thursday as it posted a new high close for the year. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are diverging but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off March's low, monthly resistance crossing at 379.25 is the next upside target. Closes below the 20-day moving average crossing at 346.16 would signal that a short-term top has been posted. First resistance is last-Friday's high crossing at 362.45. Second resistance is monthly resistance crossing at 379.25. First support is the 20-day moving average crossing at 346.16. Second support is the 50-day moving average crossing at 325.56.
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