COPPER_ HGK17  #copperfutures

Weekly – The 2.59 short confirmation was touched but held as support. Trade pressures are down. Volumes remain bearish.

Daily – Flat. Remains in the down trend. The new long entry was triggered at 2.64. Trade pressures are up. Volumes are bullish.

This new 2.64 long entry coincides with the 25×5 moving average at 2.69, which is acting as resistance to any further upmove. So, wait for a pull back then a second leg up.

A break below the 2.55 pivot would signal lower.

 

GOLD_ GCJ17  #goldfutures

Weekly – Gold has traded up to the downtrend resistance line, pulled back and now is making a second move up. Trade pressures are down. Volumes have changed to bullish from bearish.

Daily – Flat. The short trade was stopped out at 1210 with a 10 pt gain. Trade pressures have risen into the neutral zone. Volumes are bullish.

A new long trade has been signaled at 1227. However the weekly is pointing down and the hourly is overbot, wait for both price and indicator improvement.

A close below the low pivot at 1194 would signal lower.

 

SILVER_ SIK17  #silverfutures

Weekly – The recent rally took silver into a new uptrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. The two weeks of move down took Silver to 16.85. The move up off that low stopped the short trade with a 45 cent gain. Trade pressures are down but rising. Volumes have changed from bearish to bullish.

16.43 is the next target lower.

A close above 17.48 would signal higher.