#copperfutures #goldfutures #silverfutures

COPPER_ HGN23

Weekly – In the November 2022 uptrend. Trade pressures are down. Volumes are bearish.

Daily – Flat. Breaks down below the consolidation level. Trade pressures are down. Volumes are bearish.

A the 3.66 target down. Oversold levels are 3.70. Looking for a move higher at these oversold levels.

Now a close above 3.75 would signal higher. The expected oversold levels are now 3.92.

 

GOLD_ GCM23

Weekly – In the December 2022 uptrend. Trade pressures are up and still rolling over. Volumes remain bearish.

Daily – Short. in the move down from the 2044, the 5/5 short entry. Trade pressures are down. Volumes remain bearish.

The next target down is 1983 and the expected oversold levels are 1994.

A close above 2028 is now upside resistance. The next overbought levels are 2046.

Set the SL at 2028.

[5-16-23: Close the short at 2007.50. looking for a move up.]

 

SILVER_ SIN23

Weekly – In the April 2023 uptrend. Trade pressures are up but have turned down into the neutral zone.. Volumes are now bearish.

Daily – Short. A lower high presaged a move lower which came on Thursday 5/11 with a selloff from the 25.20 short signal.  Trade pressures are down and trending. Volumes are bearish.

At the 23.96 target down. Oversold levels are at 23.49.

A close above 25.36 would signal higher. Overbought levels are expected at 26.99.

Set the SL at 24.80.

[5-16-23: Close the short at 24.02.]