World market daily chart update for 27/07/2009

BULLION

Gold closed higher on Friday as it extends this week's trading range. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near- term. If it extends the rally, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

Silver closed higher on Friday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near- term. If it extends this week's rally, the reaction high crossing is the next upside target. Closes below the 10- day moving average crossing would temper the near-term friendly outlook in the market.

U.S. STOCK MARKET INDICES

DJI closed higher on Friday as it extends this week's breakout above June's high crossing. 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 bullish signalling that sideways to higher prices are possible near-term. SPI closed higher on Friday extending this week's rally above resistance marked by June's high crossing. 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 bullish signalling that sideways to higher prices are possible near-term. NDI closed higher on Friday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near- term.

ENERGY

Crude Oil closed higher on Friday extending Thursday's breakout above the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would confirm that a short-term top has been posted.

Natural Gas closed higher on Friday as it consolidates above the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term friendly outlook.