Ø  October gold closed lower on Tuesday and below the 20-day moving average crossing at 1380.50 confirming that a short-term low has been posted. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If October extends today's decline, the reaction low crossing at 1351.60 is the next downside target. Closes above the 10-day moving average crossing at 1395.70 would temper the near-term bearish outlook. First resistance is the reaction high crossing at 1432.90. Second resistance is May's high crossing at 1489.00. First support is the reaction low crossing at 1351.60. Second resistance is August's low crossing at 1272.10.

Ø  December silver closed lower on Tuesday and below the 20-day moving average crossing at 23.416 confirming that a short-term top has been posted. The low-range close set the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If December extends today's decline, the reaction low crossing at 22.320 is the next downside target. If December renews the rally off June's low, the 50% retracement level of the September-June decline crossing at 26.862 is the next upside target. First resistance is August's high crossing at 25.160. Second resistance is the 50% retracement level of the September-June decline crossing at 26.862. First support is today's low crossing at 22.840. Second support is the reaction low crossing at 22.320.