COPPER_ HGK17  #copperfutures

Weekly – Touched the 2.59 level which confirms the Daily move down. Trade pressures are down. Volumes have changed form neutral to bearish.

Daily – Flat. Near the 2.53 down side target. Trade pressures are down but showing some divergence. Volumes have changed from bearish to neutral.

May be just short covering. But a close above 2.64 would signal higher.

The next target down is 2.34.

 

GOLD_ GCJ17  #goldfutures

Weekly – The downtrend resistance line at 1260 held and turned price back down. Trade pressures are down into the neutral zone. Volumes are bearish.

Daily – Short. The 1220 level triggered the short. Trade pressures are down into the neutral zone. Volumes are bearish.

The next target down is the prior low pivot at 1182. Take profits at this 1182 level.

Lower the stops to 1210.

[3-13-17: stopped out in the night session for a 10 pt profit.]

A close above 1227 could signal higher.

 

SILVER_ SIK17  #silverfutures

Weekly – The break below the prior week’s low of 17.66 caused the down move to accelerate. Trade pressures are down. Volumes are bearish.

Daily – Short. In the move down from the 17.74 level. Trade pressures are down. Volumes are bearish.

The next target down is 16.43.

Lower stops to 17.30.

A close above 17.51 is required to start a new move up.