December Gold closed down 5.3 at 1001.1. This was 2.8 up from the low and 3.7 off the high.
December Silver finished down 0.077 at 16.623, 0.072 off the high and 0.128 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/15/2009: 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 slightly negative indicator that the close was lower than the pivot swing number. The near-term upside objective is at 1711.1. The 9-day RSI over 70 indicates the market is approaching overbought levels. The next area of resistance is around 1685.2 and 1711.1, while 1st support hits today at 1632.8 and below there at 1606.2.
COMEX GOLD (DEC) 09/15/2009: Daily stochastics have risen into overbought territory which will tend to support reversal action if it occurs. A positive signal for trend short-term was given on a close over the 9-bar moving average. It is a slightly negative indicator that the close was under the swing pivot. The near-term upside objective is at 1018.2. The market is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 1009.2 and 1018.2, while 1st support hits today at 992.8 and below there at 985.4.
December Silver finished down 0.077 at 16.623, 0.072 off the high and 0.128 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/15/2009: 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 slightly negative indicator that the close was lower than the pivot swing number. The near-term upside objective is at 1711.1. The 9-day RSI over 70 indicates the market is approaching overbought levels. The next area of resistance is around 1685.2 and 1711.1, while 1st support hits today at 1632.8 and below there at 1606.2.
COMEX GOLD (DEC) 09/15/2009: Daily stochastics have risen into overbought territory which will tend to support reversal action if it occurs. A positive signal for trend short-term was given on a close over the 9-bar moving average. It is a slightly negative indicator that the close was under the swing pivot. The near-term upside objective is at 1018.2. The market is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 1009.2 and 1018.2, while 1st support hits today at 992.8 and below there at 985.4.
No comments:
Post a Comment