COPPER_ HGN18  #copperfutures

Weekly – The sharp rally to 3.30 continues. Trade pressures are up. Volumes are now bullish.

Daily – Flat. The long trade was stopped out at the 3.26 target for a $3000 profit per contract. Trade pressures are up and extended. Volumes are bullish.

The next target up is 3.42.

A close below 3.26 would signal lower. Would look for a pullback to reenter  the long trade.

 

GOLD_ GCQ18  #goldfutures

Weekly – Trending down to the uptrend support. Trade pressures are down and extended. Volumes remain bearish.

Daily – Flat. In a move up inside the longer cycle move down. Trade pressures are still in the neutral zone. Volumes are bearish.

Need a change in volume and a close above the 25×5 moving average at 1306.

The down move was stopped at the downside target price of 1289.

Now, at the long entry price of 1301. The next target up is 1323.

A close below the lower 1289 target would signal more downside; watch the dollar futures and interest rate futures.

 

SILVER_ SIN18  #silverfutures

Weekly – No direction. Trade pressures are in the neutral zone. Volumes are mixed neutral to bullish.

Daily – Flat. A breakout to the upside. Trade pressures are up. Two days of bullish volume.

Long trade from the 16.55 level. The next target up is 17.34.

A close below the 16.61 new short entry level would signal lower.