COPPER_ HGH17   #copperfutures

Weekly  – This week provided the break above the six month trend line. Trade pressures are up. Volumes are bullish.

The next weekly target up is 2.85.

Daily – Long. The 2.61 stop was approached with a low of 2.6120, so not triggered. Trade pressures have crossed back up above the neutral zone. Bullish volume came in all day Friday.

The 2.77 up side target has been met. The next Daily target up is 2.86. Take profits at this 2.85/2.86 set of targets.

Raise the sell stops to 2.67.

[2-15-17 Update: raise stops to 2.72.]

 

GOLD_ GCJ17  #goldfutures

Weekly – Tested the down trend resistance line at 1251. Trade pressures are up. Volumes are bullish for these last two weeks. Look for the break out.

Daily – Flat. In the move up from the 1205 entry level. Trade pressures are up. Volumes remain bullish.

The 1235 and the 1241 upside targets have provided resistance; price is now in a pullback.

The next target up is 1277.

1192 will be the new sell stop.

 

SILVER_ SIH17  #silverfutures

Weekly – Up against the downtrend resistance line. Trade pressures are up and near extended. Volumes are bullish.

Daily – Flat. Never had conviction with this move. Trade pressures didn’t match up with the entry levels. Trade pressures are up. Volumes are bullish.

This move up is inside a longer cycle down move. The next group of targets up are the 19.08 pivot high, the 1898 first profit target, and the final profit target in the September cycle.

A close below 17.21 could restart the move down.