text: Gold, silver slip as U.S. dollar steadies, risk aversion not keen | Kitco News
  Jim Wyckoff Tuesday October 06, 2020 12:42
  (Kitco News) - Gold and silver prices are lower in midday U.S. trading Tuesday, pressured by a modest rebound in the U.S. dollar index today and by still-upbeat traders and investor risk attitudes early this week. December gold futures were last down $10.70 at $1,909.90 and December Comex silver was last down $0.51 at $24.05 an ounce.
  Technically, December gold futures bulls still have the overall near-term technical advantage. A two-month-old downtrend is in place on the daily bar chart, but more gains this week would likely negate it. Bulls' next upside price objective is to produce a close in October futures above solid resistance at $1,950.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the September low of $1,851.00. First resistance is seen at today's high of $1,927.00 and then at $1,950.00. First support is seen at $1,900.00 and then at this week's low of $1,891.20. Wyckoff's Market Rating: 6.5
  December silver futures bulls have the overall near-term technical advantage. However, prices are still in a two-month-old downtrend on the daily bar chart. Silver bulls' next upside price objective is closing prices above solid technical resistance at $25.00 an ounce. The next downside price objective for the bears is closing prices below solid support at the September low of $21.81. First resistance is seen at this week's high of $24.675 and then at $25.00. Next support is seen at this week's low of $23.805 and then at $23.50. Wyckoff's Market Rating: 6.0.
  December N.Y. copper closed up 10 points at 296.40 cents today. Prices closed near mid-range today. The copper bulls have the overall near-term technical advantage amid choppy and more volatile trading at higher levels, which is not bullish. Copper bulls' next upside price objective is pushing and closing prices above solid technical resistance at the September high of 312.10 cents. The next downside price objective for the bears is closing prices below solid technical support at the August low of 279.60 cents. First resistance is seen at 300.00 cents and then at last week's high of 304.65 cents. First support is seen at this week's low of 293.20 cents and then at 290.00 cents. Wyckoff's Market Rating: 6.5.