Technical Details for Friday Trading

METALS: December gold futures closed up $2.20 at $1,294.30 today. Prices 
today closed near mid-range and scored a fresh all-time record high 
close. A stable U.S. dollar today and some better-than-expected U.S. 
housing data did limit the upside for gold today. Still, bulls have the 
solid overall near-term and longer-term technical advantage. There are 
still no early technical clues to suggest a market top is close at hand 
in the gold market. The fact that volatility in the gold market has not 
increased significantly with prices now in uncharted territory is 
another bullish clue and suggests the modest uptrend in prices can 
continue. Prices are in a two-month-old uptrend on the daily bar chart. 
Bulls' next near-term upside technical objective is to produce a close 
above psychological resistance at $1,300.00. Bears' next near-term 
downside price objective is closing prices below solid technical support 
at $1,270.00. First resistance is seen at the all-time high of $1,298.00 
and then at $1,300.00. Support is seen at $1,287.50 and then at $1,280.00.

December silver futures closed up 15.0 cents at $21.20 an ounce today. 
Prices closed near the session high, hit another fresh 30-month high and 
scored a bullish "outside day" up on the daily bar chart today. Silver 
bulls still have the solid near-term technical advantage. Prices are in 
a steep four-week-old uptrend on the daily bar chart. There are still no 
early technical clues to suggest a market top is close at hand. The next 
downside price objective for the bears is closing prices below solid 
technical support at this week's low of $20.515. Bulls' next upside 
price objective is producing a close above solid technical resistance at 
$22.50 an ounce. First resistance is seen at today's high of $21.265 and 
then at $21.50. Next support is seen at $21.00 and then at today's low 
of $20.885.

December N.Y. copper closed up 245 points at 358.95 cents today. Prices 
closed nearer the session high today and hit another fresh five-month 
high today. The copper bulls have the solid overall near-term technical 
advantage. Prices are in a four-month-old uptrend on the daily bar 
chart. Bulls' next upside objective is pushing and closing prices above 
solid technical resistance at the April high of 366.90 cents. The next 
downside price objective for the bears is closing prices below solid 
technical support at 339.30 cents. First resistance is seen at today's 
high of 359.95 cents and then at 362.50 cents. First support is seen at 
today's low of 355.90 cents and then at 352.50 cents.

*. ENERGIES: November crude oil closed up $0.21 at $74.92 a barrel 
today. Prices closed nearer the session high today and saw short 
covering after prices hit a fresh three-week low early on. Bulls and 
bears are on a level near-term technical playing field. The next 
near-term upside price objective for the bulls is producing a close 
above solid technical resistance at last week's high of $78.86 a barrel. 
The next near-term downside price objective for the crude oil bears is 
to produce a close below solid technical support at the August low of 
$71.49. First resistance is seen at today's high of $75.61 and then at 
$76.00. First support is seen at $74.50 and then at $74.00.
November natural gas closed up 6.0 cents at $4.156 today. Prices closed 
near mid-range today and saw short covering in a bear market. The bears 
still have the overall near- term technical advantage. The next upside 
price objective for the bulls is closing prices above solid technical 
resistance at last week's high of $4.298. The next downside price 
objective for the bears is closing prices below solid technical support 
at the contract low of $3.971. First resistance is seen at today's high 
of $4.25 and then at $4.298. First support is seen at today's low of 
$4.094 and then at $3.971.