Crude Oil closed higher on Monday and is poised to renew last week's rally. The mid-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off May's low, the 50% retracement level of last month's decline crossing is the next upside target. Closes below last Monday's low crossing would confirm that a short-term top has been posted.

Natural Gas closed higher on Monday renewing the rally off May's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off May's low, the 50% retracement level of the November-May decline crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

Coffee closed higher on Monday and above December's high crossing as it extended last Friday's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, the 50% retracement level of the 2008-9-decline crossing is the next upside target. Closes below 20-day moving average crossing would confirm that a short-term top has been posted.

Gold closed lower on Monday and below the 10-day moving average crossing. The mid-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. Closes below the reaction low crossing are needed to confirm that a short-term top has been posted. If it renews this spring's rally into uncharted territory, upside targets will now be hard to project.

Silver closed slightly higher on Monday while extending 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 neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to confirm that a low has been posted. If it renews the decline off May's high, the reaction low crossing is the next downside target.

Courtesy: www.hymarkets.com

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