Fx N' Gold

BULLION

Gold closed higher due to short covering on Thursday as it consolidated some of this week's decline but remains below the 20-day moving average. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, broken resistance crossing is the next downside target. Closes above the 10-day moving average crossing are needed to confirm that a short-term low has been posted.

Silver closed higher due to short covering on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.

U.S. STOCK MARKET INDICES

DJI closed sharply higher on Thursday as economy expanded in the third quarter for the first time in more than a year. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI will need to see additional strength before turning bullish. SPI closed sharply higher on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that additional weakness is possible near-term. NDI closed sharply higher due to short covering on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish despite today's rally signalling that additional weakness is possible near-term.

ENERGY

Crude Oil closed sharply higher on Thursday. The positive economic news triggered today's short covering rally, as traders are looking for increased demand in the coming months. Stochastics and the RSI remain bearish and will need to see additional strength before turning positive again. The high-range close sets the stage for a steady to higher opening on Friday. If it renews this month's rally, the 38% retracement level of the 2008-2009-decline crossing is the next upside target.

Natural Gas closed higher due to short covering on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bearish but oversold hinting that a low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a low has been posted. If it extends this week's decline, the 75% retracement level crossing is the next downside target.

COFFEE

Coffee closed higher due to short covering on Thursday but remains below the 20-day moving average. The high- range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that additional weakness is possible near-term. If it extends this week's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would confirm that a short-term low has been posted.

HY Markets
http://www.hymarkets.com