COPPER_ HGK18  #copperfutures (Roll to July 4-25)

Weekly – The weekly traded up to the 25×5 moving average n ear 3.15 then pulled back. Trade pressures are rising into the neutral zone. Volumes are neutral.

Daily – Flat. The long trade was stopped out for a gain as the pullback occurred. Trade pressures have changed to down. Volumes have changed to neutral.

Still in the move up from the 3.30 long entry. The next target up is 3.17. Expect a move higher after the cessation of strikes in Syria.

A close below 3.05 would signal lower. The hourly is oversold, so wait for an over bot on the hourly for a short confirmation.

 

GOLD_ GCM18  #goldfutures

Weekly – The geopolitical stress send gold higher to test the 1367 resistance once again. Trade pressures are up. Volumes have changed from neutral to bearish.

Daily – Flat. The spike higher earlier in the week was given back by the weekend. Trade pressures are up but turning down. Volumes are bearish to neutral.

In the move up from the 1339 long entry level. The next target up remains the 1388 level.

A close below the 1309 low would signal lower. Watch interest rates.

 

SILVER_ SIK18  #silverfutures

Weekly – Continuing the move sideways in the channel. Trade pressures have moved up. Volumes are now bullish.

Daily – Flat. Price has moved to the upper bound of the downtrend line. Trade pressures are up but turning down. Volumes are now neutral.

The long entry has been signaled at 16.58. But looking for the breakout confirmation above 16.81. A close back below the 25×5 moving average at 16.48 is a failure.