December gold was higher overnight as it extends the rally off July's low.

Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. With December trading into uncharted territory, upside targets are hard to project. Closes below the 20-day moving average crossing at 1279.40 would confirm that a short-term top has been posted.

First resistance is the overnight high crossing at 1319.30. First support is the 10-day moving average crossing at 1298.50. Second support is the 20-day moving average crossing at 1279.40.

December silver was higher overnight as it extends the rally off July's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that additional short-term gains are possible near-term. If December extends the aforementioned rally, the 50% retracement level of the 1980-1993 decline on the weekly chart crossing at 22.495 is the next upside target.

Closes below the 20-day moving average crossing at 20.817 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 22.125. Second resistance is the 50% retracement level of the 1980-1993-decline on the weekly chart crossing at 22.495. First support is the 10-day moving average crossing at 21.403. Second support is the 20-day moving average crossing at 20.817.

December copper was higher overnight and has broken out above key resistance marked by April's high crossing at 366.90. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term.

If December extends this summer's rally, weekly resistance crossing at 389.31 is the next upside target. Closes below the 20-day moving average crossing at 353.82 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 372.00. Second resistance is weekly resistance crossing at 389.31.

First support is the 10-day moving average crossing at 360.15. Second support is the 20-day moving average crossing at 353.83.