#copperfutures #goldfutures #silverfutures

COPPER_ HGU24

Weekly – Still in the December 2023 uptrend. Trade pressures remain down. Volumes remain bearish.

Daily – Flat. Still in the move down from 4.53.  Trade pressures are down, but turning up. Volumes are bearish to neutral.

The next target down is 4.26. The expected oversold levels have declined to 4.30.

Need a close above 4.41 for a new long entry. The expected overbought levels have declined to 4.58.

[7-1-24: Long the HGU24 at 4.40. Set the SL at 4.38.]

[7-2-24: Raise the SL to 4.40.]

 

GOLD_ GCQ24

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

Daily – Flat. After selling down to 2303, a decent rally to 2350.  Trade pressures vacillate in the neutral zone.  Volumes remain bearish to neutral.

Rallied to the 2350 level, then some profit taking into the weekend.  The expected oversold level has risen to 2304.

The next target up is 2381. The expected overbought level has declined to 2378.

Volatility is declining.

[6-30-24: Take profits ahead of the contract rollover. Sold at 2334 Sun nite session.]

 

SILVER_ SIU24

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

Daily –Flat. Failed another attempt to break out of the downward parallel channel at 29.86.  Trade pressures are up but have turned down.  Volumes have returned to bearish.

The next target down is 28.38.  Oversold levels are 29.08.

A close above 29.51 would signal higher.  Overbought levels are 30.58.