BULLION

Gold closed lower on Monday. Prices closed nearer the session low today on profit-taking pressure from recent good gains. No significant chart damage occurred today. Bulls still have the near-term technical advantage. Prices are still in a four-week-old uptrend on the daily bar chart. The low-range close sets the stage for a steady to lower opening on Tuesday.

Silver closed lower on Monday. The mid-range close sets the stage for a steady opening on Tuesday. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted. Prices closed nearer the session low today after poking to a fresh six-week high early on. Bulls still have the overall near-term technical advantage. Silver prices are still in a four-week old uptrend on the daily bar chart.

U.S. STOCK MARKET INDICES

DJI closed lower on Monday. The mid-range close sets the stage for a steady opening on Tuesday. The U.S. stock indexes closed narrowly mixed today in quieter trading. Traders took a rest day today after posting bullish weekly high closes in the indexes on Friday. SPI closed unchange on Monday. The mid-range close sets the stage for a steady opening on Tuesday. The bulls still have the overall near-term technical advantage in the indexes. Four-week-old uptrends are in place on the daily bar charts as prices are creeping up on strong chart resistance at the January highs. NDI closed slightly higher on Monday. The high-range close sets the stage for a steady to higher opening on Tuesday. A push and close above the January highs would be very bullish, technically, and suggest a fresh leg up in prices in the near term.

ENERGY

Crude Oil closed higher on Monday. Prices closed nearer the session high today and hit another fresh two-month high. Crude oil bulls have the solid overall near-term technical advantage. The next upside price objective for the bulls is producing a close above solid technical resistance at the January high. The mid-range close sets the stage for a steady opening on Tuesday.

Natural Gas closed lower on Monday. rices closed near the session high today and hit another fresh contract low. Bears have the solid overall near- term technical advantage. Prices are in a 10-week-old downtrend on the daily bar chart. The next upside price objective for the bulls is closing prices above solid technical resistance. The mid-range close sets the stage for a steady opening on Tuesday.

COFFEE

Coffee closed lower on Monday. Prices closed nearer the session low today. Coffee bears have the overall near-term technical advantage. Prices are in an 11-week-old downtrend on the daily bar chart. Bulls' next upside objective is to close prices above solid technical resistance. The high-range close sets the stage for a steady to higher opening on Tuesday.

HY Markets
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