Copper –
pressures turned down. Copper triggered a long term sell on June 4th,
but the trade pressures have moved price into a retracement uptrend from June 25th. the target is 3.56 which is not enough to void the longer downtrend.
Daily copper is in the uptrade from 3.31 to 3.41. But the 2.93 down target is still active.
GOLD
the long term target is 1279.30, pressures are up but late in the time cycle.
Daily – next target is 1256.10. trade pressures are fully extended and showing some divergence.
1217 would signal a move down.