COPPER_ has moved up and out of the quarterly channel.
Time pressures are up. Trade pressures are up.
the Daily trade is up from 3.54. the 3.75 target has been reached and is acting as resistance.
Consolidation and retracement likely. 3.70 is support.
a close below 3.68 will signal a new down move.
[2/19 Update: the copper trade is now down. next Target down is 3.52]
GOLD_ Both Gold and Silver headed lower perhaps testing the April 2011 lows.
Gold has broken down thru the 1670 support. the next target lower is 1569.
[2/20 update: the 1569 target has been exceeded, setting up the next 1523 target down.]
resistance at 1655. need a trade above 1668 to suggest any retracement move up.
the intraday suggests a small bounce before a renewed move down.
SILVER_ is sitting on support at the 29.51 target.
both time and trade pressures are down.
the next target down is 27.66.
a trade above last weeks high would be a good place for a stop placement.