#copperfutures #goldfutures #silverfutures

COPPER_ HGU24

Weekly – Still in the December 2023 uptrend but now testing support. Trade pressures are down just below the neutral zone. Volumes are bearish.

Daily – Flat. The move up has failed  Trade pressures are down. Volumes remain bearish.

Decisive break below 4.49 sends price to the 4.26 downside target. The expected oversold levels have declined to 4.25.

A close above 4.32 would signal higher.  The expected overbought levels have declined to 4.70.

[7-31-24: Long. Breaks out of the downward channel at 4.18.]

[8-1-24: sell long at 4.01]

GOLD_ GCQ24

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

Daily – Flat. Crashed down thru the short entry price at 2445, as the US Dollar breaks the downtrend and turns up.  Trade pressures are down.  Volumes are now bearish.

The next target down is 2381. The expected oversold level has risen to 2384.

The next target up is 2467. The expected overbought level has risen to 2495.

 

SILVER_ SIU24

Weekly – Still in the December 2023 uptrend, but turning down.  Trade pressures are down.  Volumes are bearish.

Daily –Flat. Breaks down below the trendline support at 30.53.  Trade pressures down.  Volumes are now neutral.

The next target down is 28.36. Oversold levels are 28.36.

A close above 29.83 would signal higher.  Overbought levels are 30.85.