#copperfutures #goldfutures #silverfutures

COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures have broken down. Volumes remain bearish.

Daily – Flat. Price sets a new 2023 low at 2.55, near the oversold levels of 3.50.  Trade pressures are down. Volumes are bullish.

Now rallying off the lows. The expected overbought levels are 3.73. Support at 3.57.

A close above 3.66 would signal higher. Expected overbought levels are now 3.83.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are down. Volumes remain bearish.

Daily – Flat. Trade pressures are now down but rising. Volumes are now bullish.

The 1922 support failed as well as the 1903 downside target. At the next target down 1825. The expected oversold levels are 1803.

Need a close above 1853 to enter a new long trade. The expected overbought levels are 1883.

 

SILVER_ SIZ23

Weekly – In the April 2023 uptrend. Trade pressures are in the neutral zone. Volumes are neutral.

Daily – Flat. Stopped out at the 23.33 SL on 9/25. But the Friday close above 21.631 signals higher. Trade pressures are down but rising. Volumes are again bullish.

Need a pullback to validate the base, then long at at second time thru 21.63. The next target up would be 22.42.  Overbought levels are 24.61.

A close below 20.93 signals lower.  Oversold levels are expected at 21.23.

Set the SL at 21.23.