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COPPER_ HGN24

Weekly – Remains in the December 2023 uptrend. Trade pressures declining into the neutral zone. Volumes are bearish.

Daily – Flat. In the move down from the third break lower below 4.6.  Trade pressures risen into the neutral zone. Volumes remain bearish.

The next target down is 4.40. The expected oversold levels have declined to 4.46.

Need a close above 4.51 for a new long entry. The expected overbought levels have declined to 4.97.

10yr interest rates rise sharply.

 

GOLD_ GCQ24

Weekly – In the December 2023 uptrend.  Trade pressures are in the neutral zone.  Volumes remain bearish.

Daily – Flat. After a short rally the move down resumed at 2393.  Trade pressures turn back down and are in the neutral zone.  Volumes remain bearish.

At the the 2313 target. The expected oversold level has risen to 2323.

A close above 2344 would signal higher. The expected overbought level has declined to 2415.

 

SILVER_ SIN24

Weekly – In the December 2023 uptrend.  Trade pressures are just up.  Volumes remain bearish.

Daily –Flat. Moved up to the 32.53 lower high and turned down.  Trade pressures are up but turning down once again.  Volumes are bearish.

Thurs rallied and Friday sold off with the strong jobs announcement. The next target down remains 28.82.  Oversold levels are 28.91.

A close above 29.96 would signal higher.  Overbought levels are 31.36.