December Gold closed up 3.1 at 999.8. This was 4.7 up from the low and 9.9 off the high.
December Silver finished up 0.225 at 16.51, 0.285 off the high and 0.125 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/09/2009: Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The market's short-term rend is positive on the close above the 9-day moving average. The market has a slightly positive tilt with the close over the swing pivot. The near-term upside objective is at 1717.3. The market is becoming omewhat overbought now that the RSI is over 70. The next area of resistance is around 1679.2 and 1717.3, while 1st support hits today at 1609.8 and below there at 1578.4.
COMEX GOLD (DEC) 09/09/2009: Studies are showing positive momentum but are now in overbought territory, so some caution is warranted. The market's short-term trend is positive on the close above the 9-day moving average. It is a mildly bullish indicator that the market closed over the pivot swing number. The next upside target is 1015.4. The market is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 1004.0 and 1015.4, while 1st support hits today at 987.0 and below there at 981.3.
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