report as on 29/03/2010 gold & silver

Gold closed higher due to short covering on Friday as it consolidated some of the decline off last week's high. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are oversold and are turning neutral hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing would confirm that a short-term top has been posted. If it extends this week's decline, February's low crossing is the next downside target.

Silver closed higher due to short covering on Friday as it consolidated some the decline off last week's high. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends Wednesday's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would temper the near-term bearish outlook.

Crude Oil closed lower on Friday as it extends this week's decline below the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signalling that a short-term top is in or is near. Closes below last Monday's low crossing are needed to confirm that a short-term top has been posted. If it renews the rally off February's low, January's high crossing is the next upside target.