COPPER_ HGN18  #copperfutures

Weekly – At the weekly support level of 3.02. Trade pressures are neutral. Volumes have changed from neutral to bullish.

Daily – Flat. In the move down from the 3.10 level. Trade pressures are down. Volumes have changed to neutral.

After the initial move down from the 3.12 level to the 3.04 level, the rally back to the 3.15 level was the retracement trade. Now in a new move down from the 3.10 level confirmed by the trade pressures.

The volatility is high making the stop levels wide and expensive. The stop is the recent high at 3.1485.

The next target down is 3.01.

 

GOLD_ GCQ18  #goldfutures

Weekly – Down thru the 25×5 moving average. Trade pressures are down. Volumes remain bearish.

Daily – Long. In the move up from the 1300 long entry. Trade pressures are up into the neutral zone. Volumes are now bullish.

The next target up is 1323.

Set stops at the 1286 low pivot. The hourly trade pressures have turned down so, move to the long entry level asap.

[5-29-18: raise the stop to the long entry at 1301.]

[5-30-18: stopped out for a break-even in the overnight session.]

 

SILVER_ SIN18  #silverfutures

Weekly – Remains in the downtrend. Trade pressures are in the neutral zone. Volumes are neutral.

Daily – Flat.In the move up from the 16.55 long entry level. Trade pressures are up. Volumes are bullish.

The next target up is the 17.00 resistance level.

A close below 16.20 would signal lower.