Author: Charlie

Oil & Gas

CRUDE_ monthly pressures are extended down.
weekly pressures are still down, in the 82-117 channel.

Daily trade is long from 93.42 with a target of 100.
the first move up thru the longer cycle entry of 98.95 was stopped out as the market flushed out all longs,
with a move below the 92.20 stops and then turned up again thru this new long entry.

stops at 91.38. a breakdown would signal the 86 target.

NAT GAS_ monthly has just peeked above the long term moving averages.
weekly is meeting all the targets as advertised.

Daily has breezed thru the 4.64 target. the 4.80 target is offering resistance at this oversold point.
the next target up is 5.07.

a move down thru 4.59 signals a retracement down.

Metals

COPPER_ in the same monthly 3.08-3.85 channel since late 2011. coming off the lower range now.

Weekly in the move up from 3.23. next target is 3.60. stops at 2.99. pressures neutral.

Daily trade – at the 3.35 target from the long entry of 3.21. pressures have turned down.
3.23 is the first downward retracement target and should stop there, else 3.15. China economy has disproportionate influence

GOLD_ monthly tracing out a double bottom. a further breakdown sets up a lower 945 target.

weekly pressures are turning up. need to take out the 1434 pivot to prove up the long term bull.

Daily trade is long from the 1241 entry price. the next target is 1336. stop at 1181 low.

SILVER_ monthly still bearish, weekly is basing and pressures are up.

Daily trade working off the 18.90 lows. need a move up thru 20.52 to go long. the first target would be 23.15.

S&P futures

S&P_

monthly target is 1853, and stays long above 1662.
weekly long target is 1897. a weekly short entry is at 1779.

the daily trade is short from the 1827 short entry. the next target down is 1796.
the Monday intraday has met the 1813 target, so some short lived consolidation here.

need a trade above 1831 to signal higher.

US $$

USD (DX) weekly is in consolidation with an upward bias.

the Daily has traded inside the 79.20 to 81.75 channel. a number of small trades inside the channel have been successful.
the next move is likely up and the next target is 81.88.

a move down thru 79,82 would signal lower.

30 YR T-Bonds _ weekly still shows lower to the 122-19 target with resistance at the 127 lows.

the daily trade is up with a new long entry at 129-14. this is a counter-trend trade so only up to 132-08.

the sell stop is at 127-23.

Oil & Gas

CRUDE_  the weekly still in the move down with pressures remaining down.

the daily trade has closed below the 93.10 downside target and is showing lower.
the next target down is 90.80 and then 86.37

a close above 93.72 is required to stop this trade.

NAT GAS_ while Crude is down, Nat gas is moving higher. the weekly had consolidated and had begun a retracement from the the 4.41 target.

the daily pullback has met the 4.03 downside target and has reversed to the upside.
and now has triggered the 4.21 long entry. the next target up is 4.64.

Metals

COPPER_ weekly in the move up from 3.22 to 3.48.
at the first target and consolidating here.

the Daily is in a pull-back but seems to have found support at the 25 moving average.
a new move up would begin with a close above 3.35. the next target would be 3.45.

GOLD_ weekly pressures are up trade is long. next target is 1336.
the daily has turned long with the close above 1241. the next target is 1336.

a trade below 1226 would signal a reversal.

SILVER_ in consolidation testing the 18.35 lows.

the daily channel upper bound is the long entry price. a move thru 20.58 should star a new move up.
the next target up is 23.15.

a trade below 18.90 is the stop.

S&P futures

Monthly and weekly remain bullish at these 1846.50 highs
monthly target is 1853
weekly target is 1897

the daily trade is short from 1827 with the first target of 1796.

pressures remain up but are ready to cross into bearish territory.

US$$

USD_ (DX) in a new move up and at the first target of 81.05.
pressures are up so any pull back should be a new opportunity to go long

the next target up is 82.02.

30 yr Treasury Bond_ the weekly is testing the prior lows with a lower target at 122-19.
pressures are down.

the Daily remains in the downtrend, however pressures are turning up so, a correction up in this downtrend seems likely.

Oil & Gas

CRUDE_ the weekly has reversed down hard. the next target down is 91.02.
the daily is near the 93.10 target.
all pressures are hard down.

need a trade above 95.92 to signal higher.

 

NAT GAS_ consolidating around the 4.41 long target. pressures are extended up so a pullback has started.
the next target down is 4.11. look for a new long position from this area.

Metals

COPPER_ weekly is bullish, the next target up is 3.46.
the daily has closed bearish with a downside target of 3.29.

pressures remain up so this correction should be an opportunity to enter long at lower prices.

GOLD_ weekly is testing the prior lows. the multiple targets below in the 1126-1142 area
remain in place.

Daily attempting a new move up.  need a trade above 1241 to start a move up.
look for a short pullback, then a second time thru. the upside target is 1338.

keep an eye on the dollar.

SILVER_ weekly is testing the lows, the next target down is 16.25.
the daily is reaching for a long entry at 20.52, but pressures are extended on the upside, so a a pullback is likely first.