Category: Metals

Metals

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COPPER_ HGH20

Weekly – Two week rally off the 2.47 lows. Trade pressures are down but showing a bullish reversal. Volumes are neutral.

Daily – Long. In the move up from the 2.55 level. Trade pressures are up but turning down. Volumes are bullish.

The next target up is 2.67. The 120 minute chart pressures have turned down. A close below 2.53 would signal lower.

Stops are at 2.58.

 

GOLD_ GCJ20

Weekly – Moving sideways. Trade pressures are still up but in a bearish reversal. Volumes are bullish.

Daily – Flat. In the move down but in a week long retracement move up. Trade pressures are up. Volumes are bullish.

The next target up is the prior 1618 high.

At resistance now. A close below 1580 the Friday low would signal a resumption of the move down.

 

SILVER_ SIH20

Weekly – In a similar retracement move up inside the larger down move. Trade pressures are down. Volumes are bullish.

Daily – Flat. In the move down from the 18.06 short entry. Trade pressures are up. Volumes are neutral.

The next target down is 17.23. A close above 18.20 would signal higher.

Metals

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COPPER_ HGH20

Weekly – Moving up off the 2.47 lows. Trade pressures are down. Volumes are bearish.

Daily – Long. In the new move up from  the 2.57 long entry price. Trade pressures are up. Volumes are bullish to neutral. The next target up is 2.66. A close below the 2.48 low pivot would signal lower. Use this 2.48 low as the stop.

[2-9-20: Long at the 2.55 entry, Set the stop at 2.48.]

[2-11-20: Raise stop to the 2.55 long entry price.]

[2-13-20: Raise stops to 2.58.]

 

GOLD_ GCJ20

Weekly – Attempting a retest of the 1618 high pivot. Trade pressures are up. Volumes are neutral.

Daily – Flat. In the move down from the spike high and the 1588 short entry. Trade pressures are up. Volumes are neutral. The 1544 downside target has been met. The next target down is 1498.

Both the daily and weekly pressures are up; and yet price is stalled. Stand aside.

 

SILVER_ SIH20

Weekly – In the move down. Trade pressures are down. Volumes are bullish.

Daily – Flat. In the move down from the 18.06 short entry price. Trade pressures are up but turned down. Volumes are bearish.

The next target down is 16.83.

Stops at 18.35.

 

Metals

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COPPER_ HGH20

Weekly – Leading the markets down. Trade pressures are down. Volumes are bearish.

Daily – Flat. After the rally fro 2.48 to 2.88, now a check back to the 2.50 lows. Trade pressures are down. Volumes are bearish.

The next target down is 2.47.

A close above 2.58 would signal higher.

 

GOLD_ GCJ20

Weekly – Grinding higher. Trade pressures are up but showing divergence. Volumes are neutral for three weeks now.

Daily – Flat. In the new move up from the 1579 long entry level. Trade p[ressures are up. Volumes are bullish.

The next target up is 1618.

A close below 1573 would signal lower.

 

SILVER_ SIH20

Weekly – A a rising channel with downward pressures. Trade pressures are down. Volumes are bullish.

Daily – Flat. Remains in the move down from the 18.06 level. Trade pressures are rising in the neutral zone. Volumes are neutral.

The next target down is 17.23.

This close above 17.83 is new long signal but don’t want to trade against the weekly down pressures.

Metals

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COPPER_ HGH20

Weekly – Takes out six weeks of prior lows.. Trade pressures are down. Volumes are bearish..

Daily – Flat. Stopped out with a profit at 2.75. Trade pressures are down. Volumes are bearish.

At the 2.67 target. The next target down is the prior low at 2.62.

A close above 2.74 would signal higher.

 

GOLD_ GCG20  {Rolls next week}

Weekly – Still in consolidation at the summer highs of 1573. Trade pressures are up but in decline. Volumes are neutral.

Daily – Flat. 5 days of bullish move takes price to the the new long entry of 1574. Trade pressures are up. Volumes are bullish.

The next target up is 1593. Watch for weekly volume to change to bullish.

While the weekly pressures are down; bullish daily volumes can’t seem to move the needle.

A close below 1557 would signal lower.

 

SILVER_ SIH20

Weekly – In consolidation around the 18 level. Trade pressures are down into the neutral zone. Volumes are bullish.

Daily – Flat. After consolidating with bearish volumes, a day of bullish Volumes. Trade pressures are up. Volumes are bullish.

The next target down is 17.40.

A close above 18.14 would signal higher.

Metals

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COPPER_ HGH20

Weekly – In the move up off the 2.50 lows. Trade pressures are up but declining. Volumes are bearish.

Daily – Short. In a corrective move down. Volumes are neutral. Trade pressures are up but turned down.

In the move down from the 2.84 level. The next target down is 2.76.

A close above 2.86 closing high would signal higher.

Use this 2.86 as the stop.

[1-22-20: take profits at 2.75 limit. Lower buy stop to the entry price, 2.86.]

[1-23-20: 2.75 profit limit hit.]

 

GOLD_ GCG20

Weekly – In the move up from the 1520 weekly long entry. Trade pressures are up but showing a bearish reversal. Volumes are neutral.

Daily – Flat. In the corrective move from the spike high. Trade pressures are down but rising to the neutral zone. Volumes are bullish.

In the move down from the 1593 short entry price. The next target down is 1533.

A close above 1564 would signal higher.

 

SILVER_   SIH20

Weekly – Trade pressures are still but showing a bearish reversal. Volumes are bearish.

Daily – Flat. In the move down from the spike high. Trade pressures are up. Volumes are neutral.

At the 17.70 downside target and consolidating. The next target down is 16.98.

A close above 18.24 would signal higher.

Metals

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COPPER_ HGH20

Weekly – Price is rejected at the resistance levels. Trade pressures are up but turning down. Volumes are neutral.

Daily – Short. In the move down from the 2.81 short entry level. Trade pressures are down. Volumes are bearish. The next target down is 2.73.

A close above 2.83 would signal higher.

Use 2.83 as the stop.

[1-7-20: Lower stop to entry price @ 2.81.]

[1-8-20: Stopped out at the 2.81 level in the overnight reversal.]

 

GOLD_ GCG20

Weekly –  In a new move up. Trade pressures are up and extended. Volumes are bullish.

Daily – Flat. In the move up from the 1474 long entry price. Trade pressures are up and also extended. Volumes are bullish.

The next target up is 1574.

A close below 1528 would signal a retracement.

 

SILVER_ SIH20

Weekly – Following gold up. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the move up from the 16.91 December long entry. Trade pressures are up and extended. Volumes are bullish.

In consolidation at the 17.87 target level. The next target up is 18.84.

A close below 17.54 would signal lower.

 

Metals

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COPPER_ HGH20

Weekly – In the three week rally/ Trade pressures are up. Volumes are bullish.

Daily – Flat. At the 100% target of 2.83. Trade pressures are up but declining. Volumes are bullish.

The next target up is 2.96.

At the weekly resistance. Look for a small pullback here.

A close below 2.78 would signal lower.

 

GOLD_ GCG20

Weekly – Remains in the uptrend. Trade pressures are up. Volumes are Bearish, declining.

Daily – Flat. In the downtrend. Trade pressures are up volumes are in the neutral zone and rising.

In the move down from the 1471 short entry. The first short attempt was stopped out at the 1485 upper median line.

The first target down is 1451.

The weekly pressures are up. A close above 1485 would signal higher.

[12-24-19: in the new move up off the 1485 breakout, but the trade pressures are extended; wait for the next bullish reversal after a pullback.]

 

SILVER_ SIH20

Weekly – Closed above the prior week high. Trade pressures are up. Volumes are neutral.

Daily –  Long. In the move up from the 16.92 long entry. Trade pressures are up. Volumes are bullish.

The next target up is 17.43.

A close below 16.88 would signal lower.

!6.88 is the stop.

[12-24-19: raise the stop to the prior day’s low of 17.41.]
[12-26-19: raise stop to 17.91.]

[12-27-19: Stopped out overnight at the 17.91 level.]

Metals

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COPPER_ HGH20

Weekly – New weekly long signal. Trade pressures are up. Volumes are bullish.

Daily – Flat. In the move up from the 2.68 long entry. Trade pressures are up. Volumes are bearish.

Testing the August high of 2.82. The next target up is 2.83.

A close below 2.78 and the median line would signal lower. If still long this 2.78 is also the stop.

 

GOLD_ GCG20

Weekly – In the long retracement down. Trade pressures are rising into the neutral zone. Volumes are still bearish.

Daily – Short. The rally to 1491 is now in retracement from the 1471 short entry. Trade pressures are down. Volumes are bullish.

The next target down is 1451. the trend is neutral so, tight stops.

A bullish reversal would align the daily trade pressures with the weekly.
A close above 1485 would signal higher. Use that same level as the stop.

[12-19-19: stopped out @ 1485 for a loss.]

 

SILVER_ SIH20

Weekly – Remains in the long retracement after the Sept spike to 19.89. Trade pressures are down and trending. Volumes are bearish.

Daily – Flat. Attempted a new  move up but failed. Trade pressures are up and extended. Volumes are bullish.

The next target up is the long entry at 16.92.

A close below 16.66 signals lower.

Metals

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COPPER_ HGH20

Weekly – Rallies with the jobs report and equity markets. Trade pressures are up. Volumes are bullish.

Daily – Long. In the move up off the 2.68 entry as the daily trade pressures align with the weekly. Trade pressures are up. Volumes are bullish.

The next target up is 2.75 and the prior pivot high. Expect some consolidation at the 2.75.

A close below 2,70 would signal lower.

Set the stop at 2.70.

[12-9-19: Sell at the 2.75 target. Trade pressures are a t 100%]

 

GOLD_ GCG20

Weekly – Remains in the uptrend Trade pressures are down but rising. Volumes remain bearish.

Daily – Flat. Out of the long trade but still in the move up. Trade pressures are down. Volumes are now bearish.

The 1468 level would get the long trade going again.

A close below 1460 would signal lower.

 

SILVER_ SIH20

Weekly – The up move failed at the MA. Trade pressures are down. Volumes are bearish.

Daily – Flat. Stopped out of the long trade. Trade pressures are down. Volumes are bearish.

Silver never confirmed gold’s move up. The break of the downside 61% target sends silver lower.

The next target down is 15.68.

A close above 16.91 would signal higher.

Metals

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COPPER_ HGH20

Weekly – Continues trending sideways. Trade pressures are rising in the neutral zone. Volumes are neutral.

Daily – Flat. Weekly pressures are up looking for the bullish reversal on the daily. Trade pressures are down into the neutral zone. Volumes are neutral.

Support at the 2.61 level. The next long entry is at 2.68.

[12-8-19: Jobs report pops copper thru the long entry price and the 25×5 MA.]

 

GOLD_ GCG20

Weekly – side ways channel for three weeks. Trade pressures are down. Volumes are bearish.

Daily – Long. In the new contract at the 1468 entry price.. Trade pressures are down but rising. Volumes are bearish.

The next target up is 1483.

A close below the prior low would signal lower.

Use that low pivot at 1453 as the stop.

[12-5-19: Sold at 1479.80]

 

SILVER_ SIH20

Weekly – In the pull back from the spike highs of October. Trade pressures are down but rising. Volumes are neutral.

Daily – Long. In the move up from the March contract 17.11 long entry level. Trade pressures are down, but showing some divergence. Volumes are bearish.

The next target up is 17.46.

A close below 16.75 would signal lower. Use this 16.75 as the stop.

[12-6-19: Stopped out at 16.75.]