August gold futures closed up $3.70 at $950.60 yesterday. Prices closed near mid-range yesterday amid a sell off in the U.S. dollar index yesterday. Gold bulls still have the near-term technical advantage. Prices are still in a steep two-week-old uptrend on the daily bar chart. Bears' next downside price objective is closing prices below solid technical support at $920.00. Gold bulls' next upside price objective is to push and close prices above solid technical resistance at the March high of $971.00. First resistance is seen at this week's high of $955.40 and then at $960.00. Support is seen at yesterday's low of $944.60 and then at $940.00.

Wyckoff's Market Rating: 6.0.

Source: VantagePoint Intermarket Analysis Software

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December silver futures closed up 20.3 cents at $13.72 an ounce yesterday. Prices closed nearer the session high yesterday and scored a mildly bullish "outside day" up on the daily bar chart. Prices are in a two-week-old uptrend on the daily bar chart and the bulls still have some upside near-term technical momentum. Bulls' next upside price objective is closing prices above solid technical resistance at $14.355 an ounce. The next downside price objective for the bears is closing prices below solid technical support at $13.00. First resistance is seen at yesterday's high of $13.785 and then at $14.00. Next support is seen at $13.50 and then at yesterday's low of $13.41.

Wyckoff's Market Rating: 5.5.

December N.Y. copper closed up 665 points at 252.50 cents yesterday. Prices closed nearer the session high yesterday and hit a fresh 9.5-month high. The copper bulls have the solid near-term technical advantage. The next downside price objective for the bears is closing prices below solid technical support at 230.00 cents. Bulls' next upside objective is pushing and closing prices above solid technical resistance at 260.00 cents. First support is seen at 250.00 cents and then at 245.00 cents. First resistance is seen at yesterday's high of 254.15 cents and then at 257.50 cents.

Wyckoff's Market Rating: 8.0.