after tagging the 110 target, Crude has gone into consolidation; trading between 108 and 105.
the next target up is 121.47.
101.34 is the next target down, if 105 is broken.
Author: Charlie
Metals
COPPER_ in the trade up to 4.16. caught between the 3.98 and the 3.69 channel boundaries.
the cycle ends 4/15. Trade pressures are neutral.
GOLD_ still in the move down from 1721, next target is 1614 and 1503 is the full move down.
all pressures are down til 4/4.
a move up thru 1694 could restart the upmove.
SILVER_ the 37.57 high almost touched the fisrts target of 37.89.
then the trade back down thru 35.11 started the move down to 31.50
which is showing some support here.
next target down is 27.75 if the support doesn’t hold.
a move up thru 34.45 could start a new move up to 38.61
S&P Futures
The monthly move is up.
the weekly move is near the final target of 1363.
and as the pullback worry increases. the daily has triggered a new move up from 1329.
a trade down thru 1319 would start a move down.
the intraday has made a few tries to sell off, but the buyers seem to come in at the end of the day.
the market is set up for a “fail”, and the trigger is likely to be some event.
US$ (DX)
the Dollar seems to confirm the possibility of a rally in oil.
the dollar benefits from a flow of funds coming from elsewhere, so from where and why?
the weekly remains in the move up from 77.55 to the 82.77 target.
the trading pressures have just turned up.
while still in the daily move down, the dollar is setting up for a rally.
the next target down 76.47.
a trade above 80.10 would start the move up.
Crude Oil WTI
weekly and daily pressures have both turned up.
the 62% retracement of the recent move down at 102..28 is the current resistance.
is this a warning of the Iranian situation getting out of hand?
a breakout of the 103.60 high would set a target of 110.37.
a break below 92.95 starts a new move down.
Metals
COPPER_ at the 3.94 target.
the 3.85 move down starts the short trade to 3.65.
GOLD_ pressures are down.
the move is up, next target up is 1796.
1693 starts the next move down.
SILVER_ still in move up to 35.75.
pressures are down.
need a trade below 32 to start a move down.
S&P Futures
Monthly and weekly trade pressures are still up. the weekly time pressures are up until March 30th.
Daily at the 1319-1329 target and consolidating.
time pressures are now up. trade pressures are up and very extended.
next target up is the 1362 May 31st high.
any selling will get more selling.
a move below 1296 would suggest a correction to 1246.
US$ (DX)
US$$_ in the move down from 80.65.
the next target down is 78.60.
time pressures are turning up. trade pressures are down and extended.
a trade up thru 80.86 would restart the move up.
Crude WTI
CRUDE OIL_ the 103.60 high is resistance. now trading between the high and the short entry price.
the target up is 108.85. the target down is 87.82.
there is no direction, stand aside.
Metals
COPPER_ has reached its target of 3.94.
time pressures are up til 2-15. trade pressures are up but extended.
the next target up is 4.38.
a trade down thru 3.80 would signal a move down to 3.60.
GOLD_ traded up thru the entry price, to the first target and now is showing higher to 1792.
time pressures are up thru 2/16. trade pressures are up and extended.
a traded down thru 1659 would restart the move down.
[there are unfilled targets in the 1420-1441 area. ]
SILVER_ moved thru the entry price and to the 32.08 target. now signaling higher to 35.75.
time pressures turn down 2/16. trade pressures are up, but extended.
a trade down thru 31.34 would signal a move down.