Swing Trading Strategies & Stock Picks Since 2003

 METALS: December gold futures closed down $1.30 at
$1,258.00 today. Prices closed nearer the session low on
some profit-taking pressure. Early prices did hit a fresh
10-week high. Bulls still have upside near-term technical
momentum and have the solid technical advantage. Prices
are also in a six-week-old uptrend on the daily bar
chart. Bulls' next near-term upside technical objective
is to produce a close above solid chart resistance at the
all-time high of $1,270.60, scored in June. Bears' next
near-term downside price objective is closing prices
below solid technical support at last week's low of
$1,233.50. First resistance is seen at today's high of
$1,264.70 and then at $1,270.60. Support is seen at
today's low of $1,254.60 and then at $1,250.00. Wyckoff's
Market Rating: 8.0.

December silver futures closed up 8.6 cents at $20.00 an
ounce today. Prices closed near mid-range today and hit
another fresh two-year high. The key "outside markets"
were in a bullish posture for silver today, as the U.S.
dollar index was weaker, while crude oil and U.S. stock
index prices were firmer. Silver bulls have the solid
near-term technical advantage. The next downside price
objective for the bears is closing prices below solid
technical support at last week's low of $18.86. Bulls'
next upside price objective is producing a close above
solid technical resistance at $21.00 an ounce. First
resistance is seen at today's high of $20.18 and then at
$20.25. Next support is seen at today's low of $19.82 and
then at this week's low of $19.585. Wyckoff's Market
Rating: 8.0.

December N.Y. copper closed up 235 points at 349.40 cents
today. Prices closed nearer the session high today. The
key "outside markets" were in a bullish posture for
copper today, as the U.S. dollar index was weaker, while
crude oil and U.S. stock index prices were firmer. The
bulls have the near-term technical advantage. Bulls' next
upside objective is pushing and closing prices above
solid technical resistance at 360.00 cents. The next
downside price objective for the bears is closing prices
below solid technical support at 330.00 cents. First
resistance is seen at today's high of 351.50 cents and
then at this week's high of 353.45 cents. First support
is seen at 347.50 cents and then at today's low of 345.10
cents. Wyckoff's Market Rating: 7.0.