COPPER_ HGN18  #copperfutures

Weekly – The 3.30 old up side target level has rejected price once again. Trade pressures are now down into the neutral zone. Volumes are now bearish.

Daily – Short. In the move down from the 3.26 short entry in the retracement trade down.Trade pressures are still up but turning down. Volumes are bearish.

The Friday move down took out the 3.18 target. The next target down is 3.11.

Lower the stops to the the 3.18 prior downside target. Take the profit target at 3.11 (the contract rolls 6/26, so close before that day.)

A close back above 3.19 would signal higher.

[6-18-18: The 3.11 profit stop was triggered, out with a nice profit.]

 

GOLD_ GCQ18  #goldfutures

Weekly – Eight weeks down. Trade pressures are down. Volumes are bearish.

Daily – Flat. The upmove signal was never confirmed with the trade pressures. Trade pressures are still in the neural zone. Volumes are bearish.

The persistent weekly downward pressures were too much for the daily to overcome. The break down thru the prior low pivot sets up the 1264 downside target.

A close above 1292 would signal higher.

 

 

SILVER_ SIU18  #silverfutures

Weekly – Still in the side ways move although the weekly volatility is picking up. Trade pressures are down into the neutral zone. Volumes are bearish.

Daily – Flat. The breakout to the upside moved to one penny above the 17.34 upside target then turned down. Trade pressures are now down. Volumes are bearish.

The new short trigger is at 17.02. The first downside target has been met at 16.50. The next target down is 15.98.

A close back above the 17.33 target would signal higher