Author: Charlie

Oil & Gas

CRUDE_
Weekly – trade pressures are down and extended. volume is bearish.
the next target down is 47.99.

Daily – Trade pressures are down. volume is bearish.
at 57.80 near the the 57.22 target. expect consolidation.
the next target down is 44.49.

a close above 61.80 could start a retracement trade up to 69.77.

NAT GAS_
Weekly – trade pressures are flat. volume is bearish.
retesting the 3.60 target.

Daily – trade pressures are down. volume is neutral.
next target down is 3.18.

a close above 3.81 could signal a short cycle up trade to 4.15.

Metals

COPPER_
The expected break occurred to the downside and is now consolidating.

Weekly – trade pressures are down. volume is neutral.
Price is below the 2.94 target. the next target down is 2.64.

Daily – trade pressures are up. volume is bullish.
After the spike down thru the 2.82 target, now long from the 2.88 entry price.
the next target up is 3.05.

2.77 stops the trade.

GOLD_
Weekly – trade pressures are up. volume is bullish.
the 1142 target seems to have held.  need a close above 1426 to resume the 2009-2011 long cycle uptrade

Daily – trade pressures have turned down. volume remains bullish.
the 1237 target was reached and acted as resistance. the next target up is 1304.

a close below 1209 would signal lower.

SILVER_
Weekly – trade pressures are turning up. volume is bullish.
Consolidating around the 16.25 target. the next target down is 10.70.

Daily – Trade pressures are up. volume is bullish.
in the long trade from 15.61, the next target up is 18.22.

stops at the entry price.

S&P Futures

Monthly – trade pressures are overbot. volume is bullish.
the next target is 2204.
Weekly – trade pressures are overbot and volume remains bullish.
the next targte up is 2095 and 2119.

Daily – the trade pressures are down. volume is bearish.
the next target up is 2089.

the next short entry is 2031 with a downside target of 1954.

Tuesday Morning 12/9:  the markets are turning over with Asian and European markets down sharply.
Usually the first move down to the short entry is a profit taking move followed by a retracement up. The next move down thru the short entry is the actual short.

US $$

USD (DX)_
Weekly –  trade pressures are up. volume is bullish.
thru the 88.78 target. next target is 94.46.

Daily – trade pressures are declining and about to turn negative. volume is still net bullish.
Asia and European markets are turning down.  the short entry of 89.88 has been triggered.
the next target down is 87.95.

30 YR TBONDS_
should react to the dollar.

Weekly – trade pressures ar down. volume is bullish.
in the short trade from 141-22 down to the 133-27 target.

Daily – trade pressures ahve turned back up. volume is bullish.
in the long trade from 141-24 to the old high of 146-18.

138-36 stops the trade.

Oil and Gas

CRUDE_
Weekly – trade pressures are down. volume is neutral.
price has dropped below the $65 support area.
the next weekly target is 47.99

Daily – Trade pressures are down. volume is bearish.
next target down is 57.22.

66.70 stops the short trade.

NAT GAS_
Weekly  – trade pressures are turning down. volume is bearish.
the long retracement move up has failed. now at the 3.60 downside target.

Daily – trade pressures are down. volume is bearish.
at the 3.64 support. the next target down is 3.18.

Need a close above 4.34 to restart a long trade.

 

 

 

Metals

COPPER_
Weekly – Trade pressures are down. volume is neutral.
the breakdown moves HG towards the 264 target.

Daily – trading pressures are up. volume is bearish.
at a retracement long entry for a 3.05 target.

GOLD_
Weekly – Trade pressures are up. volume is bullish.
last weeks retest of the 1142 area may offer support to the longs.

Daily – Trade pressures are up. volume is bullish.
at the short cycle target. next cycle target is 1237.

a trade below 1189 stops the move up.

SILVER_
Weekly – trade pressures are turning up. volume is bullish.
16.68 is a new long entry.

Daily – Trade pressures are up. volume is neutral.
15.61 is a the long entry with a 18.22 target.

a close below 15.04 stops the long trade.

S&P Futures

Monthly – trade pressures are up. volume is bullish.
the next target is 2204.

Weekly – trade pressures are up. volume is bullish.
the next target up is 2095.

Daily – trade pressures are up and extended. volume has gone to neutral.
the next target up is 2089.

a trade close below 2027 will signal lower.

the moves in oil and gold seem to be a signal for some change.
As a number of sensitive economies rely on oil revenues for their budgets,
these stresses may result in some poor political judgments.

US $$

USD (DX)_
Weekly – trade pressures are up. volume is bullish.
in the long trade from 81.75. next target is 88.78.

Daily – trade pressures are down. volume is bullish.
Next target up is 88.81.

the next short entry is 87.82

30YR T-Bonds_  money seems to be coming from the euro side.
Weekly – trade pressures are down. volume is bullish.
in the short trade from 141-22.

Daily  – trade pressures are up. volume is bullish.
in the same short trade as the weekly.

but having a retracement trade up inside that longer cycle.
long from the 141-24 long entry with a 146-16 target.

Oil & Gas

CRUDE_
Weekly – Trade pressures are down. volume is bearish.
Dropped thru multiple targets to the 65.18 target.

Daily – trade pressures are down. volume is bearish.
should see some consolidation around this weekly target.
the next target down is 47.99

the next long entry is a close above 69.95 for a quick trade, but need a confirmation above 76.47 for the longer term.

NAT GAS_
Weekly – trade pressures are up. volume is neutral.
in the long trade from 4.30.

Daily – Trade pressures are down. volume is bearish.
in the long trade from 4.19, with a stop at the 3.97 pivot (getting close)

Metals

COPPER_
Weekly – trade pressures are down. volume is bearish.
next target down is 2.64.

Daily – trade pressures are hard down. volume is bearish.
broke down thru the lower pivot and accelerated down to near the 2.82 target.

need a close above the Friday open 2.95 to start a move up.

GOLD_
Weekly – trade pressures are down. volume is bearish.
1142 support is likely to be retested.

Daily – trade pressures are still up. volume is bearish.
the 25 x 5 MA stopped the moved up. the failure produced a 30 point down day.
the next target down is 1130.

need a close above 1185 to start a new move up.

SILVER_
Weekly – Trade pressures are down. Volume is bearish.
still looks to be consolidating around the 16.25 target.

Daily – Trade pressures are down. volumes are bearish.
The long entry was never triggered. the pullback is close to the prior lows of 15.12.

still need a close above 16.27 for anew long entry.