COPPER_ HGU18  #copperfutures

Weekly – At the confluence of the prior long entry in early 2017 and the new multi year short entry at 2.71. Trade pressures are down. Volumes are neutral to bearish.

Daily – Flat. The prior attempt at a new long trade ran to the first target and the quickly retraced to get stopped out at the entry price. Trade pressures are down once again. Volumes are still bullish.

Also sitting on the long entry price of 2.76 but with downward pressures, need to wait for a crossover of the 25×5 moving average for confirmation.

 

GOLD_ GCZ18  #goldfutures

Weekly – Hard down in this move . Trade pressures are down and extended. Volumes are bearish.

Daily – Flat. Lots of short term trading opportunities reflective of the extended nature of this move down. Trade pressures are down and trending. Volumes are bearish to bullish.

The next target down is 1182.

1226 is the next long entry. but must wait for the trade pressures to change.

 

SILVER_ SIU18  #silverfutures

Weekly – At the first weekly target down. Trade pressures are down. Volumes are bearish.

Daily – Flat. At the 4th target down and showing consolidation. Trade pressures are down but rising. Volumes are bearish to bullish.

The next target down is the weekly 13.46 level.

A close above 15.48 would signal higher. But, as with gold, would want a confirmation of a close above the 25×5.