COPPER_ HGZ15

Weekly – Has now confirmed the daily move up. Trade pressures are down but trending up. Volume closed bullish for the week.

Daily – Long. In the trade from the 2.32 entry price. Trade pressures are up. Volume remains bullish. The first target up is 2.47 which was touched two days last week. The next target up is 2.53.

Raise stops to the entry price of 2.32.

A close below 2.29 will signal lower.

GOLD_ GCZ15

Weekly – Remains in the downtrend started Sep ’14. Trade pressures are neutral. Volume is also neutral. The weekly downside target is 1053.

Daily – Flat. The Aug 20th and 24th down days in the equity markets as they reacted to the Chinese Yuan devaluation really had no significant effect on Gold. The close below 1113 this last week has triggered a new short in Gold. Trade pressures are down. Volume is bearish.

The next support level will be the 1072 prior low.

This next week is FED “raise the rate” week. So wait for the trade to see the reaction and possible price improvement.

The stop will be 1169.

SILVER_ YIZ15

Weekly – Trade pressures remain neutral as the price continues to consolidate at the 14.16 low. Volume is still bearish.

Daily – No Trade. Trade pressures are up but no momentum. Volume is bullish.