December Gold closed up 9.6 at 1006.4. This was 5 up from the low and 7.3 off the high.
December Silver finished up 0.03 at 16.7, 0.315 off the high and 0.05 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/14/2009: Momentum studies are trending higher but have entered overbought levels. The close above the 9-day moving average is a positive short-term indicator for trend. It is a mildly bullish indicator that the market closed over the pivot swing number. The near-term upside target is at 1719.2. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 1700.0 and 1719.2, while 1st support hits today at 1663.0 and below there at 1645.3.
COMEX GOLD (DEC) 09/14/2009: Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The market's close above the 9-day moving average suggests the short-term trend remains positive. A positive setup occurred with the close over the 1st swing resistance. The next upside objective is 1023.8. The 9-day RSI over 70 indicates the market is approaching overbought levels. The next area of resistance is around 1016.5 and 1023.8, while 1st support hits today at 999.1 and below there at 989.0.
December Silver finished up 0.03 at 16.7, 0.315 off the high and 0.05 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/14/2009: Momentum studies are trending higher but have entered overbought levels. The close above the 9-day moving average is a positive short-term indicator for trend. It is a mildly bullish indicator that the market closed over the pivot swing number. The near-term upside target is at 1719.2. With a reading over 70, the 9-day RSI is approaching overbought levels. The next area of resistance is around 1700.0 and 1719.2, while 1st support hits today at 1663.0 and below there at 1645.3.
COMEX GOLD (DEC) 09/14/2009: Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The market's close above the 9-day moving average suggests the short-term trend remains positive. A positive setup occurred with the close over the 1st swing resistance. The next upside objective is 1023.8. The 9-day RSI over 70 indicates the market is approaching overbought levels. The next area of resistance is around 1016.5 and 1023.8, while 1st support hits today at 999.1 and below there at 989.0.
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