PRECIOUS METALS RECAP

December Gold closed down 5.4 at 1004.9. This was 7.7 up from the low and 1.9 off the high.

December Silver finished down 0.185 at 16.88, 0.095 off the high and 0.245 up from the low.

Technical Outlook
COMEX SILVER (DEC) 09/22/2009: Daily stochastics turning lower from overbought levels is bearish and will tend to reinforce a downside break especially if near term support is penetrated. The market's short-term trend is negative as the close remains below the 9-day moving average. It is a slightly negative indicator that the close was under the swing pivot. The next downside objective is now at 1635.0. The next area of resistance is around 1709.5 and 1727.0, while 1st support hits today at 1663.5 and below there at 1635.0.

COMEX GOLD (DEC) 09/22/2009: Daily stochastics turning lower from overbought levels is bearish and will tend to reinforce a downside break especially if near term support is enetrated. The close below the 9-day moving average is a negative short-term indicator for trend. The market's close below the pivot swing number is a mildly negative setup. The next downside objective is now at 991.6. The next area of resistance is around 1010.8 and 1015.5, while 1st support hits today at 998.8 and below there at 991.6.

CURRENCY MARKET RECAP

December US Dollar closed up 0.34 at 77.010. This was 0.310 up from the low and 0.325 off the high.

December Euro closed down 0.51 at 146.69. This was 0.59 up from the low and 0.43 off the high.

December Japanese Yen finished down 0.8 at 108.7, 0.89 off the high and 0.58 up from the low.

December Swiss finished down 0.37 at 96.89, 0.36 off the high and 0.58 up from the low.

December Canadian Dollar finished down 0.76 at 92.73, 0.92 off the high and 0.59 up from the low.

December British Pound closed down 0.75 at 161.96. This was 0.63 up from the low and 0.68 off the high.

Technical Outlook
JAPANESE YEN (DEC) 09/22/2009: Momentum studies trending lower at mid-range should accelerate a move lower if support levels are taken out. The market's close below the 9-day moving average is an indication the short-term trend remains negative. The defensive setup, with the close under the 2nd swing support, could cause some early weakness. The next downside objective is now at 107.31. The next area of resistance is around 109.42 and 110.24, while 1st support hits today at 107.96 and below there at 107.31.
EURO (DEC) 09/22/2009: A crossover down in the daily stochastics is a bearish signal. Stochastics turning bearish at overbought levels will tend to support lower prices if support levels are broken. The market's short-term trend is positive on the close above the 9-day moving average. It is a slightly negative indicator that the close was under the swing pivot. The next downside objective is 145.65. The next area of resistance is around 147.22 and 147.68, while 1st support hits today at 146.21 and below there at 145.65.