COPPER_ HGZ16  #copperfutures

Weekly – Three weeks into this move down. Trade pressures are down. Volumes remain bearish.

Daily -Flat. After moving up near the first profit target of 2.22 copper has retraced downward aggressively. Trade pressures are down. Volumes are bearish.

Now in a new downtrend from the break below the 25×5 moving average at 2.16. The first short profit target of 2.08 has been tested. The next target down is 1.99.

[A close above 2.12 has triggered a new long with stops at 2.08.]

 

GOLD_ GCZ16  #goldfutures

Weekly – Remains in the downtrend. Trade pressures are down. Volumes remain in neutral for the second week.

Daily – Flat. In the move down from the 1338 short entry. Trade pressures are down but rising. Volumes are bullish.

The next target down is 1228.  Did get a 10 point rally off the the overbought from last week.

Need a close above 1290 to signal higher.

 

SILVER_ SIZ16  #silverfutures

Weekly – Still in the uptrend and testing weekly support. Trade pressures are down. Volumes are neutral.

Daily – Flat. Consolidating at the downside target of 17.37. Trade pressures are down but rising. Volumes are mixed bullish to neutral.

The next target down is 15.60.

Need a close above 18.37 to signal a new long.