COPPER_ HGU18  #copperfutures

Weekly – Almost back to the June 2017 weekly long entry. Trade pressures are down. Volumes remain bearish.

Daily – Flat. Tariffs up, Copper down. Trade pressures are down and extended. Volumes are bearish turning neutral.

The next target down is 2.68.

A close above 2.86 would signal a retracement up.

 

GOLD_ GCZ18  goldfutures

Weekly – 12 weeks in this move down. Trade pressures are down and extended. Volumes remain bearish.

Daily – Long. The lower median line of the Andrews Pitchfork has acted as support. Trade pressures are down but rising. Volumes have changed to bullish.

The next target down is 1222.

A close above 1252 has occurred and triggered the new long entry for a retracement trade. As this is a retracement move inside the prevailing downtrend, take the first profit target at 1276.

Use the low pivot at 1238 as the stop.

[7-9-18: Raise the stop to the entry price of 1252]

[7-10-18: stopped out in the early AM @ $1252; breakeven]

 

SILVER_ SIU18  #silverfutures

Weekly – 4 weeks down on this move. Trade pressures are down into the neutral zone. Volumes remain bearish.

Daily – Flat. In the move down. At the pitchfork median line. Trade pressures are down, but rising. Volumes are bearish.

The next target down is 15.22.

A close above 16.10 would signal a retracement move up in this downtrend.