#copperfutures #goldfutures #silverfutures

COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures are down but rising. Volumes remain neutral.

Daily – Long. In the move up from 3.64 on 10/27.  Trade pressures are up. Volumes are bullish.

The expected overbought levels are 3.70 and overhead resistance is the same. Tight stops.

A close below 3.56 would signal lower. Expected oversold levels are now 3.54.

[11-5-23: SL 3.63]

[11-6-23: Raise stop to BE at 3.64.]

[11-8-23: Stopped out for a BE.]

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. Profit stop triggered at 1983. Trade pressures down into the neutral zone. Volumes remain bullish.

A new long entry would be signaled with a close above 2008 which has been tested three times and failed. The next target up is 2081 with median line resistance at 2010. The expected overbought levels are now 2015.

A close below 1968 would signal lower. The expected oversold levels are 1970.

 

SILVER_ SIZ23

Weekly – In the September 2023 downtrend. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. Still in the move up from the 21.63 signal. Trade pressures are now up. Volumes are now bullish.

In consolidation. The next target up remains 23.99. Overbought levels are still 24.74.

A close below 22.70 signals lower which has been tested three time also.  Oversold levels are expected at 21.23.

[11-7-23: New short at 22.70.  SL @ 22.70.]]

[11-7-23: Stopped out immediately for a BE.]