PRECIOUS METALS http://quotes.ino.com/exchanges/?c=metals

February gold closed lower on Friday and the low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral signaling that sideways to lower prices are possible near-term. If February renews last week's decline, the reaction low crossing at 1331.10 is the next downside target. Closes above the 20-day moving average crossing at 1387.78 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1387.78. Second resistance is last Monday's high crossing at 1424.40. First support is last Friday's low crossing at 1352.70. Second support is the reaction low crossing at 1331.10.

March silver closed lower on Friday renewing the decline off last week's high. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging but are turning neutral signaling that sideways to lower prices are possible near-term. If March renews last week's decline, the 25% retracement level of the July-January rally crossing at 27.856 is the next downside target. Multiple closes above the 20-day moving average crossing at 29.577 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 29.577. Second resistance is last Monday's high crossing at 31.275. First support is today's low crossing at 28.100. Second support is the 25% retracement level of the July-January rally crossing at 27.856.

February crude oil closed slightly higher on Friday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. If February extends this week's rally, the reaction high crossing at 92.58 is the next upside target. Closes below last Friday's low crossing at 87.25 would confirm that a short-term top has been posted. First resistance is last Monday's high crossing at 92.58. Second resistance is weekly resistance crossing at 93.87. First support is last Friday's low crossing at 87.25. Second support is the reaction low crossing at 84.09.