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(Kitco News) - Comex April gold futures prices ended the U.S. day session sharply higher and near the daily high Tuesday. The precious metals markets were boosted by news that Greece and the European Union have finally secured a debt-restructuring deal. The key “outside markets” were also in a bullish daily posture for gold and silver, as the U.S. dollar index was lower and crude oil prices were sharply higher. The gold and silver market bulls regained upside near-term technical momentum with Tuesday’s solid price gains. April gold last traded up $31.20 at $1,757.00 an ounce. Spot gold was last quoted up $21.60 an ounce at $1,756.25.  March Comex silver last traded up $1.134 at $34.35 an ounce.

The market place gained increased investor risk appetite Tuesday as Greece secured its next round of bailout money from the European Union. That boosted the Euro currency and pressured the U.S. dollar index. However, the European stock markets greeted the Greek news with trepidation as those markets treaded water or weakened slightly in the aftermath of the news.

The U.S. dollar index traded lower Tuesday, which was a positive for the precious metals. Meantime, Nymex crude oil futures prices were sharply higher and hit a fresh 9.5-month high Tuesday. The solidly higher crude oil prices were a major bullish factor for the precious metals. Crude oil and the U.S. dollar index will remain the two key “outside markets” that will generally have at least some daily influence on gold and silver price moves.

The gold market also sees bullish tailwinds from the weekend news that Iran has halted oil shipments to some European countries, to pre-empt an EU ban on Iranian oil imports. The tensions between Israel and the West, and Iran, are and likely will remain a bullish fundamental factor for the safe-haven gold market. Also, the weekend news that China eased its monetary policy is a bullish underlying factor for all raw commodity markets.

The London P.M. gold fixing was $1,748.00 versus the previous P.M. fixing of $1,733.00.

Technically, April gold futures prices closed near the session high Tuesday and hit a fresh two-week high. Gold bulls have the overall near-term technical advantage and regained upside technical momentum Tuesday. Bulls' next upside technical breakout objective is to produce a close above solid technical resistance at the February high of $1,765.90. Bears' next near-term downside price objective is closing prices below psychological support at $1,700.00. First resistance is seen at $1,765.90 and then at $1,775.00. First support is seen at $1,750.00 and then at $1,740.00. Wyckoff's Market Rating: 7.0.

March silver futures prices closed near the session high Tuesday and closed at a fresh three-month high close. Silver bulls have the overall near-term technical advantage and regained good upside near-term technical momentum Tuesday. Bulls’ next upside price breakout objective is closing prices above solid technical resistance at the February high of $34.52 an ounce. The next downside price breakout objective for the bears is closing prices below solid technical support at last week’s low of $32.64. First resistance is seen at $34.52 and then at $35.00. Next support is seen at $34.00 and then at $33.50. Wyckoff's Market Rating: 7.0.

March N.Y. copper closed up 1,300 points 383.80 cents Tuesday. Prices closed near the session high. The key outside markets were bullish for copper Tuesday as the U.S. dollar index was lower and crude oil prices were sharply higher. Copper bulls still have the overall near-term technical advantage. However, a two-month-old uptrend on the daily bar chart was negated last week. Copper bulls' next upside breakout objective is pushing and closing prices above major psychological resistance at 400.00 cents. The next downside price breakout objective for the bears is closing prices below solid technical support at last week’s low of 369.35 cents. First resistance is seen at 385.00 cents and then at 387.50 cents. First support is seen at 380.00 cents and then at 375.00 cents. Wyckoff's Market Rating: 6.5.

Follow me on Twitter! If you want daily, or nightly, up-to-the-second market analysis on gold and silver price action, then follow me on Twitter. It's free, too. My account is @jimwyckoff .

By Jim Wyckoff contributing to Kitco News; jim@jimwyckoff.com

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