Silver closed sharply lower on Monday marking a downside breakout of last week's trading range. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
DJI closed lower on Monday as it extended last week's decline. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. SPI closed sharply lower on Monday as it extended last week's breakout below the 20-day moving average. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. NDI closed sharply lower on Monday due to the economic outlook. Today's decline confirmed a downside breakout of last week's trading range thereby renewing the decline off this month's high. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term.
Crude Oil closed sharply lower on Monday and closed below the 20-day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends today's decline, the 25% retracement level of this spring's rally crossing is the next downside target.
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