GOLD‏ (Spot) intraday: aim @ 1659

Pivot: 1652.00

Our preference: LONG positions above 1652 with targets @ 1659 & 1669.

Alternative scenario: The downside penetration of 1652 will call for 1645 & 1635.

Comment: a support base at 1652 has formed and has allowed for a temporary stabilisation.

Trend: ST Ltd downside; MT Range

Natural Gas‏ (Jan 13 - NYMEX) ST: target 3.24

Our pivot point stands at 3.9.

Our preference: target 3.24.

Alternative scenario: above 3.9, look for 4.15 and 4.3.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. The price is below its 20 day MA (3.7) but above its 50 day MA (3.58).

Copper‏ (Mar 13) intraday: the bias remains bullish.

Pivot: 3.64
Our preference: LONG positions above 3.64 with targets @ 3.7 & 3.72.
Alternative scenario: The downside breakout of 3.64 will open the way to 3.61 & 3.58.
Comment: the RSI is supported by a rising trend line.

SILVER‏ (Spot) intraday: bounce.

Pivot: 32.50

Our preference: LONG positions above 32.5 with 33.2 & 33.5 as next targets.

Alternative scenario: The downside breakout of 32.5 will open the way to 32.2 & 32.

Comment: the RSI lacks downward momentum.

Crude Oil‏ (Jan 13) intraday: under pressure.

Pivot: 89.30

Our preference: SHORT positions below 89.3 with 87.5 & 86.5 as next targets.

Alternative scenario: The upside breakout of 89.3 will open the way to 90.3 & 90.85.

Comment: as long as the resistance at 89.3 is not surpassed, the risk of the break below 87.5 remains high.

GOLD‏ (Spot) intraday: the downside prevails.

Pivot: 1708.00

Our preference: SHORT positions below 1708 with 1684 & 1672 in sight.

Alternative scenario: The upside breakout of 1708 will open the way to 1722 & 1731.

Comment: as long as 1708 is resistance, look for choppy price action with a bearish bias.

GOLD‏ (Spot) intraday: rebound expected.

Pivot: 1689.00

Our preference: LONG positions above 1689 with 1708 & 1722 in sight.

Alternative scenario: The downside breakout of 1689 will open the way to 1684 & 1672.

Comment: the RSI is well directed.

Crude Oil‏ (Jan 13) intraday: the downside prevails.

Pivot: 89.30

Our preference: SHORT positions below 89.3 with 87.5 & 86.5 as next targets.

Alternative scenario: The upside breakout of 89.3 will open the way to 90.3 & 90.85.

Comment: as long as 89.3 is resistance, likely decline to 87.5.

SILVER‏ (Spot) intraday: turning down.

Pivot: 33.15

Our preference: SHORT positions below 33.15 with targets @ 32.5 & 32.2.

Alternative scenario: The upside penetration of 33.15 will call for 33.5 & 33.95.

Comment: as long as 33.15 is resistance, look for choppy price action with a bearish bias.

Copper‏ (Mar 13) intraday: further advance.

Pivot: 3.63

Our preference: LONG positions above 3.63 with 3.685 & 3.7 as next targets.

Alternative scenario: The downside penetration of 3.63 will call for a slide towards 3.61 & 3.58.

Comment: technically, the RSI is above its neutrality area at 50.

Crude Oil‏ (Jan 13) intraday: under pressure.

Pivot: 89.30

Our preference: SHORT positions below 89.3 with targets @ 87.5 & 86.5.

Alternative scenario: The upside penetration of 89.3 will call for 90.3 & 90.85.

Comment: as long as 89.3 is resistance, look for choppy price action with a bearish bias.

GOLD‏ (Spot) intraday: rebound expected.

Pivot: 1689.00

Our preference: LONG positions above 1689 with 1708 & 1722 as next targets.

Alternative scenario: The downside penetration of 1689 will call for a slide towards 1684 & 1672.

Comment: the RSI is well directed.

Copper‏ (Mar 13) intraday: further upside.

Pivot: 3.61

Our preference: LONG positions above 3.61 with targets @ 3.67 & 3.7.

Alternative scenario: The downside penetration of 3.61 will call for 3.58 & 3.55.

Comment: the RSI lacks downward momentum.

SILVER‏ (Spot) intraday: up turn.

Pivot: 33.10

Our preference: LONG positions above 33.1 with 33.6 & 33.95 as next targets.

Alternative scenario: The downside breakout of 33.1 will open the way to 32.9 & 32.5.

Comment: intraday support around 33.1

Crude Oil‏ (Jan 13) intraday: the downside prevails.

Pivot: 90.25

Our preference: SHORT positions below 90.25 with 87.5 & 86.5 as next targets.

Alternative scenario: The upside penetration of 90.25 will call for a rebound towards 90.8 & 91.6.

Comment: break of a ST rising trendline support.

GOLD‏ (Spot) intraday: the downside prevails.

Pivot: 1714.00

Our preference: SHORT positions below 1714 with 1695 & 1689 as next targets.

Alternative scenario: The upside penetration of 1714 will call for 1722 & 1731.

Comment: as long as 1714 is resistance, look for choppy price action with a bearish bias.

Natural Gas‏ (Jan 13 - NYMEX) ST: target 3.19

Our pivot point stands at 3.79.

Our preference: target 3.19.

Alternative scenario: above 3.79, look for 4.02 and 4.16.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line, The MACD must penetrate its zero line to expect further downside. The price is trading under its 20 day MA (3.69) but above its 50 day MA (3.55).

Crude Oil‏ (Jan 13) intraday: bullish bias above 88.65

Pivot: 88.65

Our preference: LONG positions above 88.65 with 90.25 & 90.8 in sight.

Alternative scenario: The downside penetration of 88.65 will call for a slide towards 87.5 & 86.5.

Comment: the RSI is mixed and calls for caution.

GOLD‏ (Spot) intraday: further advance.

Pivot: 1703

Our preference: LONG positions above 1703 with 1722 & 1731 in sight.

Alternative scenario: The downside breakout of 1703 will open the way to 1698 & 1694.

Comment: the RSI lacks downward momentum.

Crude Oil‏ (Jan 13) intraday: the bias remains bullish.

Pivot: 87.65

Our preference: LONG positions above 87.65 with targets @ 89.6 & 90.8.

Alternative scenario: The downside penetration of 87.65 will call for 87 & 85.35.

Comment: even though a continuation of the consolidation cannot be ruled out,its extent should be limited.

GOLD‏ (Spot) intraday: the bias remains bullish.

Pivot: 1703.00

Our preference: LONG positions above 1703 with 1731 & 1736 as next targets.

Alternative scenario: The downside breakout of 1703 will open the way to 1698 & 1694.

Comment: the RSI advocates for further upside.

SILVER‏ (Spot) intraday: further upside.

Pivot: 33.10

Our preference: LONG positions above 33.1 with 33.95 & 34.4 in sight.

Alternative scenario: The downside penetration of 33.1 will call for 32.9 & 32.5.

Comment: the RSI lacks downward momentum.

Crude Oil‏ (Jan 13) intraday: the bias remains bullish.

Pivot: 87.65

Our preference: LONG positions above 87.65 with targets @ 89.6 & 90.8.

Alternative scenario: The downside penetration of 87.65 will call for 87 & 85.35.

Comment: technically, the RSI is above its neutrality area at 50.

GOLD‏ (Spot) intraday: the bias remains bullish.

Pivot: 1703.00

Our  Preference: LONG positions above 1703 with 1731 & 1736 as next targets.

Alternative scenario: The downside breakout of 1703 will open the way to 1698 & 1694.

Comment: the RSI advocates for further upside.

Copper‏ (Mar 13) intraday: the bias remains bullish.

Pivot: 3.61

Our preference: LONG positions above 3.61 with targets @ 3.67 & 3.7.

Alternative scenario: The downside penetration of 3.61 will call for a slide towards 3.58 & 3.55.

Comment: the RSI is bullish and calls for further advance.

SILVER‏ (Spot) intraday: under pressure.

Pivot: 33.95

Our preference: SHORT positions below 33.95 with 33.1 & 32.9 in sight.

Alternative scenario: The upside breakout of 33.95 will open the way to 34.4 & 34.75.

Comment: as long as 33.95 is resistance, look for choppy price action with a bearish bias.

Crude Oil‏ (Jan 13) intraday: the bias remains bullish.

Pivot: 87.65

Our preference: LONG positions above 87.65 with 89.6 & 90.8 as next targets.

Alternative scenario: The downside penetration of 87.65 will call for slide towards 87 & 85.35.

Comment: technically, the RSI is above its neutrality area at 50.

GOLD‏ (Spot) intraday: further upside.

Pivot: 1703.00

Our preference: LONG positions above 1703 with 1731 & 1736 as next targets.

Alternative scenario: The downside penetration of 1703 will call for 1698 & 1694.

Comment: the RSI advocates for further upside.