CRUDE_ no trade. has been in the long trade from 81.61 and now t the target of 94.85. would expect consolidation and retracement at this level. look for a move back towards 88 to setup a new long entry.
NAT GAS_ in the retracement move down to 2.625. a trade above 3.10 could get the new move up going again.
pressures are still down.
the dollar pressures remain down, so the metals should have a bit of room on the upside.
COPPER_ no trade. trading in the 3.23 – 3.55 channel. also trading around the 3.4 pivot price.
Interesting to see the correlation with the china index as represented by the FXI ETF. Both are showing some upward pressures.
a trade above 3.47 is the long term long entry price. a proxy for copper would Freeport Minerals common stock.
GOLD_ no trade. the 1575-80 area is the pivot for gold. Trading in the 1534 -1648 channel and will need to break out for any new move to begin.
Longer term pressures are up so the next move should be up.
SILVER_ no trade. silver has reached the downside target of 26.26. the longer term pressures are indicating the next move to be up.
a trade thru 28.60 still remains the entry price.
Monthly and weekly are holding above the critical 1341 level. a close this week at these levels will be very positive.
a daily close here above 1352 will change the trend to up. the next target up is 1365.
a close below 1338 restarts the move down to test the 1302 lows.
USD_ starting to see the recent move up in the dollar accompanied by the decline in bonds and then a rise in equities.
USD consolidating at the weekly target and the daily highs.
the next daily target up is 84.48. but still in the short term correction down to 82.30.
30 YR Bonds_ in the down trade to 145-10. with upside resistance at the 152-30 level.
CRUDE_ in the move up and trade pressures are up.
targeting 94.85 with 83 as support.
unmet short target still at 75.35
NAT GAS_ consolidating at the 2.975 target. a move above this target would setup the 3.41 target.
any move down would likely be contained by the 2.40 level.
COPPER_ in the downward channel between 3.10 and 3.60. would expect to begin to see some reaction to housing numbers, if they are real.
weekly in the move down to 3.12.
daily in the move up to 3.71. support at the 3.40 level. a move below support would signal lower to the 3.10 weekly target.
time and trade pressures remain up.
GOLD_ remains in the move sideways. still exposed to a move down. not sure what would precipitate a move down, no new QE?
weekly target down is 1440, but the trade pressures are reaching oversold.
daily time pressures are up and the trade pressures remain up also.
the daily trade is up to 1660.
a move down thru 1547 would signal lower.
SILVER_ in the weekly down trend and a daily up trend; so neutral and sideways for a while.
weekly is sitting on support at 26.26; if broken, the next target down is 19.12.
daily needs to move above 28.60 to get long
Monthly – an important close above 1327 keeps the monthly trend positive.
Weekly – the close above 1340 confirms the move up to 1365/1404. still have downward time pressures thru October.
Daily – the move up thru 1326 was the long entry to 1365/1397.
time and trade pressures are up.
a move below the 1322 low of Friday would restart the move down.
USD_ weekly is in a pullback. the prior 83.81 target has produced Resistance. the next target up is 89.23.
Daily trade, while still inside a move up to 85.69, this move down has confirmed the expected correction target of 80.32.
even more short term, upward trade pressures are suggesting a short term target at 81.39. so may have a better short entry.
EURO_ big move up to the target. would expect some consolidation here. has mirrored the S&P for many years.
CRUDE_ this is the corrective move up that was expected earlier. still have downward upper time frame pressures.
a move above 85.26 could start a new move up on the weekly.
81.63 was the long entry on the daily, next target is 88.24.
NAT GAS_ quickly met the 2.93 target. now over bot and showing pullback to 2.51.
a break above the 2.97 high will signal a move to 3.45
wrong – no big drop, as short covering based on the EU agreements to work toward a stated set of resolutions.
Copper in a new move up, so watch the FXI the chinese index for a reversal.
Gold at a the long entry, watc for a pullback and a second move thru and watch the USD for clues.
Silver nuetral now.
COPPER_ weekly still in downtrend, but buying pressures are oversold and ready to turn up.
daily has traded thru the long entry of 3.42. now at the 3.50 high. after breaking that, the next target up is 3.71.
a reversal below Fridays low would restart the move down.
GOLD_ a 45 dollar rally puts the trade at the long entry price of 1596.
if Monday can close above then the target price is 1660.
the downside target remains 1515.
trade pressures have turned up, but the upper time frames are still showing downside pressures.
so any move up could be limited.
SILVER_ traded down to the weekly target of 26.26 and now showing some positive divergences.
need a move above 28.60 to confirm any move up.
the next downside target remains at 19.21