Gold closed higher on Thursday as it rose to its highest level since March. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bearish signalling that additional profit taking is possible near-term. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market.

Silver closed higher on Thursday as it rose to its highest level since Feburary. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning bearish signalling that additional profit taking is possible near-term. Closes below the 10-day moving average crossing would temper the near-term friendly outlook in the market. If it renews this month's rally, March's high crossing is the next upside target.

U.S. STOCK MARKET INDICES

DJI closed lower on Thursday as stocks tumbled for a third day. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near. SPI closed lower on Thursday after jobless claims topped economists’ forecasts. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near. NDI closed lower on Thursday erasing gains in the final hour of trading. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near.

ENERGY

Crude Oil closed lower on Thursday as prices dropped from a six-month high after the Federal Reserve cut its forecast for the economy of the U.S. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near. Closes above the 10-day moving average crossing would confirm that a short-term bottom has been posted.

Natural Gas closed lower on Thursday as prices fell the most in almost two years after a bigger-than- forecast increase in inventories. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought and are turning neutral hinting that a short-term top might be in or is near. Closes above the 10-day moving average crossing would confirm that a short-term bottom has been posted.

COFFEE

Coffee closed higher on Thursday as it extends yesterday's trading range. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but are neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this spring's 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.