December Gold closed down 2.7 at 997.1. This was 1.6 up from the low and 6.9 off the high.
December Silver finished down 0.04 at 16.47, 0.26 off the high and 0.03 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/10/2009: 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. The market tilt is slightly negative with the close under the pivot. The near-term upside objective is at 1692.1. The market is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 1659.7 and 1692.1, while 1st support hits today at 1610.3
and below there at 1593.2.
COMEX GOLD (DEC) 09/10/2009: 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. The market's close below the pivot swing number is a mildly negative setup. The next upside objective is 1011.0. The next area of resistance is around 1000.9 and 1011.0, while 1st support hits today at 984.7 and below there at 978.7.
December Silver finished down 0.04 at 16.47, 0.26 off the high and 0.03 up from the low.
Technical Outlook
COMEX SILVER (DEC) 09/10/2009: 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. The market tilt is slightly negative with the close under the pivot. The near-term upside objective is at 1692.1. The market is becoming somewhat overbought now that the RSI is over 70. The next area of resistance is around 1659.7 and 1692.1, while 1st support hits today at 1610.3
and below there at 1593.2.
COMEX GOLD (DEC) 09/10/2009: 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. The market's close below the pivot swing number is a mildly negative setup. The next upside objective is 1011.0. The next area of resistance is around 1000.9 and 1011.0, while 1st support hits today at 984.7 and below there at 978.7.
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