December Gold closed up 13.9 at 1020.2. This was 4.7 up from the low and 2.1 off the high.
December Silver finished up 0.43 at 17.43, 0.15 off the high and 0.205 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/17/2009: Momentum studies are trending higher but have entered overbought levels. The market's short-term trend is positive on the close above the 9-day moving average. A positive setup occurred with the close over the 1st swing resistance. The next upside target is 1791.3. The market is approaching overbought levels with an RSI over 70. The next area of resistance is around 1770.2 and 1791.3, while 1st support hits today at 1715.8 and below there at 1682.4.
COMEX GOLD (DEC) 09/17/2009: Daily stochastics have risen into overbought territory
which will tend to support reversal action if it occurs. 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 target is 1032.9. The market is approaching overbought levels with an RSI over 70. The next area of resistance is around 1027.1 and 1032.9, while 1st support hits today at 1011.7 and below there at 1002.1.
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