CRUDE_
at the same 101.92 target as before and trade pressures are turning down.
time pressures are up. 106.83 is the next target up.
a trade back down thru 99 signals a correction.
Author: Charlie
Metals
COPPER_ traded down thru the 3.26 target. then back up thru the 3.38 long entry.
trade pressures are up. next target up is 3.64.
a trade back down thru 3.46 signals lower.
GOLD_ gold has downward time pressures until late January with a target down of 1593.
currently in this larger move down but experiencing a correction up inside the down move.
trade pressures are up. the next target up is 1840, but resistance at the 1804 pivot high.
SILVER_ in the up cycle til mid January. the next target up is 36.86.
but see new longer cycles that are pressing down. so sideways is more likely.
need to take out the 35.70 pivot. trade pressures are extended so that may not happen.
S&P Futures
the long term trade up remains intact with trade pressures up and time pressures turning up next month.
after the short entry of 1252, the 1208 support is now being tested. 1198 is the next target down.
time pressures are down thru thanksgiving.
trade pressures are down.
a move back up thru 1263 would restart the move up to a 1343 target.
US$ (DX)
the dollar traded within pennies of the 78.74 target, so expect some consolidation.
the next target up is 81.14.
a move down thru 77.29 would signal a short entry to 75.24.
a euro QE might cause a move to the dollar and us treasuries.
then a subsequent move out of treasuries might flow into equities.
Crude Oil WTI
CRUDE_
By the numbers from 94.04 to 101.21. No consolidation and an immediate reversal.
With the short entry from 98.75 triggered, 94.42 is the next target down.
need a move up thru 100.03 to restart the move up. the next target up is 108.65.
Metals
COPPER_ is still in the trade up, but pressures are down.
the 3.26 target seems likely. with resistance at 3.31.
a move up thru 3.49 would be the second time thru the long entry price,
which needs a bullish reversal of trade pressures.
GOLD_ the volatility around the 1777 upside target and the overbot nature trade pressures
were the signal that something was to change. Must be cashflow needs that are driving the sales.
the 1719 short entry has been triggered.
trade pressures are down. the next target down is 1593.
need a trade above 1779 to get the rally going again.
SILVER_ seems to be trading more like copper.
has traded down thru the short entry price.
the next target down is 26.41.
but this short entry coincides with a shorter cycle downside target, so may not get there.
the new long entry is 33.22.
time pressures are up, trade pressures are down.
S&P Futures
Monthly trade pressures have turned up and the time pressures are up beginning this month.
Weekly time pressures are just turning up.
Daily _ we are in the move up from 1263 to 1345.
trade pressures are up. time pressures are down til 11/29.
a trade down thru 1252 may start a move down to the bottom of this new range – 1208.
US$ (DX)
US DOLLAR_
the next target up is 78.64.
a trade below 76.84 signals a move down to 74.81.
and very close to this short entry.
the equities and metals should move up with this currency move down.
Crude Oil WTI
CRUDE_ on the move up to 101.21.
a trade below 96.05 signals a move down.
[Update: thru the upside target Wed Nov 16th.
a trade down thru 98.43 would signal a correction down.]
Metals
COPPER_ in the move down to 3.26, but stopped at 3.32.
the long entry for the move up is 3.49 – to a 3.78 target.
the trade pressures are still down, so the 3.26 target is still active.
GOLD_ remains in the move up to 1831, expect some acceleration in the next two days.
1719 signals the entry for a move down.
SILVER_ in the trade up from the long entry of 34.54.
the time pressures turn up in two days.
31.95 is the signal for a move down.