CRUDE_ wti. the downward pressures have moved oil thru the short entry price of 93.60.
now testing the August lows with a further target down to 82.08.
the downward pressures are beginning to look oversold, so a trade back up thru 93.01 could take Crude back up to 101.60.
NAT GAS_ the long entry from 3.09 has reached the 3.55 target. some consolidation is expected then the next target up is 4.01.
any retracement down should hold at 3.12.
COPPER_ have reached the 3.84 target and weekly pressures are turning down.
next target up is 4.22 but expect a retracement here to 3.67 and perhaps 3.56.
GOLD_ the high of 1798 has almost reached the weekly target of 1801, as well as the daily target of 1791.38.
next target up is 1815 but as pressures are extended up, expect a retracement down.
a move down thru the entry price of 1763 could setup the 1707 downside target.
SILVER_ the 35.02 target has acted as resistance for three weeks. pressures remain down.
the next target up is 37.12.
a trade down thru 33.63 could send the market down to 30.78.
S&P_ monthly remains up with 1525-1531 as the next targets up.
weekly also up with the next target up of 1472.
downward time pressure begin the week of September 17th.
the support level of 1398 must hold to maintain the uptrend.
Daily- the next target up is 1492.
respect this uptrend but expect some pullbacks. 1450 would trigger a short entry to 1422.
the long consolidation area around 1390 that took place in august is the likely area to see substantial buying come in should the pullback get extended.
what could happen? the hedge funds in need of performance, buy enough to get the DOW 30 to it’s all time high of 14,198. we have come from 12,035 in jun to 13, 593 in sept. what’s another 600 points. most likely a pullback first.
USD_ in the freefall down as the equity market moves higher.
the next target down is 78.47 and 78.11. should expect a retracement up from these levels.
might coincide with an equity market sell off.
need a trade up thru 79.49 to start the retracement.
30yr BOND_ ripped down thru the 146-26 target, next target down is 143-22.
would expect a move up from these next targets, perhaps as the dollar moves up. need a trade up thru 146-01 to start this move up.
CRUDE_ indicators overbot and showing negative divergence. articles and conversations talking about so much oil in the transportation pipeline that storage is going to be an issue.
from the 90.52 entry, the next target up is 102.50.
the Friday spike up will have to hold the 97.25 support else the risk is a break back to 93.77.
pressures are turning down.
NATGAS_ has entered the long entry of 2.87 on the daily and is now showing long entry on the weekly at 2.93.
might be worth a switch from oil to gas.
short term a trade below 2.91 could be a signal for a retracement to test 2.82 before it goes higher.
COPPER_ pressures are up. the weekly is at the first target of 3.84.
the daily has moved thru all the intermediate targets with ease.
Now the May 3.86 high will be a test of resistance on the way to the next target of 3.99.
the daily pressures are showing overbot. the next target up is 3.99.
a move down thru 3.69 would signal lower.
GOLD_ long time pressures up but turn down October 12th.
in this move up from 1601 on the long cycle and 1668 on the short cycle. the next target up is 1791 and 1801.
then expect a retracement as all cycles will be overbot, some time around the 25th of sept is the time estimate.
would expect a test of 1714, a failure of 1714 could signal lower.
SILVER_ very nice trade from the 28.60 entry. now at the 35.02 target.
overbot on both the weekly and daily.
stand aside til next signal.
any pull back should hold 32.44, else this move will fail and fall back to the 27.50 level.
Monthly and weekly targets are 1525 and 1456 respectively.
pressures are trending to neutral.
the Daily trade is long from 1419. the next target up is 1441.
the long cycle target of 1337 is acting as resistance.
a move down thru 1421 should begin a retracement to 1394.
pressures are up.
USD_ remains in the down move from 83.53 and have reached the 80.53 target.
the next target down is 78.11.
pressures remain down.
a move up thru 80.79 should start a retracement up to the 82 area.
30yr T-Bond_ in a move down from 151-16. first target has been reached,
and a retracement up has been completed and now a new leg down has stared from 149-31.
the next target down is 146-26.
pressures remain down.
CRUDE_ crude is consolidating around the 94.85 – 96.50 targets.
the next target up is 102.50.
pressures are turning down.
a trade below 90.75 would signal lower.
NAT GAS_ trading thru the long entry price of 2.85 this morning. the target is 3.26.
the 2.62 downside target has held support for three tests.
Pressures are turning up.
COPPER_ in the uptrend from 3.46. has traded thru two targets with ease. next target is 3.77. 3.84 is the weekly target.
a reversal down thru 3.55 would signal lower.
Pressures remain up.
GOLD_ reached the 1736.50 target. that is now acting as Resistance. the next target area up is 1791-1801.
a move down thru 1679 would signal lower.
Pressures are still up.
SILVER_ moved easily thru the 32.76 target the next target is 35.02.
pressures remain up, but are beginning to loo extended.
a move down thru 31.20 would signal lower.