HY Markets Market Commentary - Metal News: Gold closed lower on Monday and extend the decline after a short covering bounce off the 38% retracement level of this year's rally crossing. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are oversold and turning neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. If it renews the decline off June's high, the 50% retracement level of the aforementioned decline crossing is the next downside target. Silver closed higher on Monday and the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI have turned bearish hinting that a short-term high might be in or is near. Closes above last Thursday's high crossing are needed to confirm that a low has been posted. If it extends the decline off June's high, June's low crossing is the next downside target. Comments: None