Swing Trading Strategies & Stock Picks Since 2003

METALS: February gold futures closed up $36.00 an ounce
at $1,700.10 today. Prices closed near the session high
today, hit a fresh six-week high and scored a big and
bullish "outside day" up on the daily bar chart, whereby
the high was higher and low was lower than the previous
session's trading range, with a higher close. The bulls
gained fresh, solid upside technical momentum today. The
gold market rebounded from lower levels in the wake of a
"dovish" FOMC statement from the Federal Reserve that sunk
the U.S. dollar index and rallied crude oil prices. Gold
bulls have the solid overall near-term technical advantage.
A four-week-old uptrend is still in place on the daily bar
chart. Bulls' next upside technical breakout objective is
to produce a close above solid technical resistance at the
December high of $1,767.10. Bears' next near-term downside
price objective is closing prices below chart support at
$1,640.00. First resistance is seen at $1,720.00 and then
at $1,725.00. First support is seen at $1,685.00 and then
at $1,675.00. Wyckoff's Market Rating: 7.0.

March silver futures closed up $1.18 an ounce at $33.155
today. Prices closed near the session high today, hit a
fresh six-week high and scored a bullish "outside day" up
on the daily bar chart. The key "outside markets" turned
bullish for silver at midday today, as crude oil prices
firmed and the U.S. dollar index sunk. Silver bulls have
the overall near-term technical advantage and gained fresh
upside momentum today. A four-week-old uptrend is in place
on the daily bar chart. Bulls' next upside price breakout
objective is closing prices above solid technical
resistance at the December high of $33.74 an ounce. The
next downside price breakout objective for the bears is
closing prices below major psychological support at $30.00.
First resistance is seen at today's high of $33.32 and then
at $33.74. Next support is seen at $32.50 and then at
$32.00. Wyckoff's Market Rating: 6.5.

March N.Y. copper closed up 350 points 384.25 cents today.
Prices closed near the session high and hit a fresh four-
month high today. The key "outside markets" turned bullish
for copper at midday today, as crude oil rallied and the
U.S. dollar index sunk. Copper bulls have the solid near-
term technical advantage. Prices are in a six-week-old
uptrend on the daily bar chart. Copper bulls' next upside
breakout objective is pushing and closing prices above
major psychological resistance at 400.00 cents. The next
downside price breakout objective for the bears is closing
prices below solid technical support at last week's low of
359.40 cents. First resistance is seen at today's high of
385.05 cents and then at 387.50 cents. First support is
seen at 382.50 cents and then at 380.00 cents. Wyckoff's
Market Rating: 7.0.