COPPER_ HGK18  #copperfutures

Weekly – So far support at the uptrend line has held. Trade pressures are down but extended. Volumes have changed from bearish to neutral.

Daily – Long. In the move up form the 3.03 long trigger level. Trade pressures are up into the neutral zone. Volumes are bullish.

The next target up is 3.17. Expect intermediate resistance at 3.09, the 25×5 moving average.

Stops at the recent low pivot at 2.93. Since this is a retracement trade in the downtrend, move the stops to break-even as soon as possible.

A close below 2.99 would signal lower.

[4-9-18: Mon AM – raise the stop to the entry price – 3.03.]

[4-11-18: raise stop to the 25×5 moving average – 3.07]

[4-12-18: stopped out in the overnight session @ 3.07, 4 pts up.]

 

GOLD_ GCM18  #goldfutures

Weekly – In a tight channel between the 25×5 moving average and the 1367 upside target. Trade pressures are up into the neutral zone. Volumes have changed from bullish to neutral.

Daily – Flat. In the move up from the 1339 long entry level triggered Mar 23rd. Trade pressures are down. volumes are bullish.

In the uptrend, but a shorter cycle move has started a  pullback. The next target down is 1321. The support line is at 1310.

With the weekly pressures rising, look for a move down toward the lower weekly channel boundary to consider a long entry.

 

SILVER_ SIX18  #silverfutures

Weekly – Long, slow downtrend. Trade pressures are down. and trending. Volumes are bearish.

Daily – Flat. Always hard for this method to trade silver. Trade pressures are down. Volumes are bearish to neutral.

Daily ranges routinely exceed the entry levels; so really trading volatility.

No entry.