June gold closed higher on Wednesday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June extends the rally, the reaction high crossing at 935.80 is the next upside target. Closes below the 20-day moving average crossing at 901.20 would temper the near-term bullish outlook. First resistance is today's high crossing at 931.40. Second resistance is April's high crossing at 935.80. First support is the 10-day moving average crossing at 909.20. Second support is the 20-day moving average crossing at 901.20.

July silver closed lower on Wednesday as it consolidates some of Tuesday's rally. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher priced are possible near-term. If July extends this spring's rally, February's high crossing at 14.640 is the next upside target. Closes below the 20-day moving average crossing at 12.986 would signal that a short-term top has been posted. First resistance is today's high crossing at 14.370. Second resistance is February's high crossing at 14.640. First support is the 10-day moving average crossing at 13.516. Second support is the 20-day moving average crossing at 12.986.

July copper closed lower on Wednesday and below the 20-day moving average crossing at 208.20 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible near-term. If July extends today's decline, the reaction low crossing at 190.05 is the next downside target. Closes above the reaction high crossing at 221.70 are needed to renew the rally off the late-April low. First resistance is last Thursday's high crossing at 221.70. Second resistance is April's high crossing at 224.15. First support is today's low crossing at 201.50. Second support is the reaction low crossing at 190.05.

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