Category: Metals

Metals

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COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures have broken down. Volumes is now neutral.

Daily – Flat. Pulled back to just above the 3.51 downside target.  Trade pressures are down. Volumes are bearish.

Need a close above the 3.65 level to enter a new long trade. The expected overbought levels are 3.75.

A close below  3.55 would signal lower. Expected oversold levels are now 3.45.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are now up. Volumes remain bullish.

Daily – Flat. Profit stop triggered at 1983. Trade pressures remain up. Volumes remain bullish.

A new long entry would be signaled with a close above 2008. The next target up is 2081 with median line resistance at 2019 and 2033; and the expected overbought levels are now 2025.

A close below 1944 would signal lower. The expected oversold levels are 1937.

 

SILVER_ SIZ23

Weekly – In the September 2023 downtrend. Trade pressures are now up. Volumes are bullish.

Daily – Flat. Still in the move up from the 21.63 signal. Trade pressures are down. Volumes are now neutral.

The expected resistance at 23.88, the median line, and the 200 day MA did turn price down. The next target up remains 23.99 and could signal a new long entry. Overbought levels are still 24.74.

A close below 22.70 signals lower.  Oversold levels are expected at 22.01.

 

Metals

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COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures have broken down. Volumes remain bearish.

Daily – Flat. Pulling back to test the 3.51 downside target.  Trade pressures are down. Volumes are bearish.

Need a close above the 3.66 level to enter a new long trade. The expected overbought levels are 3.70.

A close below  3.54 would signal lower. Expected oversold levels are now 3.50 to 3.45.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures rise into the neutral zone. Volumes are now bullish.

Daily – Long. The 1853 entry was established 10-9. Trade pressures are up. Volumes remain bullish.

Got the close above 1853 to enter a new long trade. The expected overbought levels are 1899. Price is well above the OB levels; so, is exposed to selling.

A close below 1870 would signal lower. The expected oversold levels are 1818.

SL at 1896.

[10-18-23: Raise SL to 1925]

[10-19-23: Raise SL to 1952.]

[10-20-23: Raise SL to 1983]

[10-24-23: Stopped out at 1983.]

 

SILVER_ SIZ23

Weekly – In the September 2023 downtrend. Trade pressures are down. Volumes are neutral.

Daily – Long. Last Friday close above 21.63 signaled higher. Long 10/9 at 21.94.  Trade pressures up. Volumes remain  bullish.

At the 22.79 target up.  A back-test of trend line resistance is at 23.19. The next target up is 23.99. Overbought levels are 24.74.

A close below 22.19 signals lower.  Oversold levels are expected at 21.59.

Set the SL at the prior 22.42 upside target.

[10-18-23: Raise SL to 22.79 prior target.]

[10-19-23: SL triggered at 22.79.]

Metals

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COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures have broken down. Volumes remain bearish.

Daily – Flat. Price sets a new 2023 low at 2.55, near the oversold levels of 3.50.  Trade pressures are down. Volumes are bullish.

Now rallying off the lows. The expected overbought levels are 3.73. Support at 3.57.

A close above 3.66 would signal higher. Expected overbought levels are now 3.83.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are down. Volumes remain bearish.

Daily – Flat. Trade pressures are now down but rising. Volumes are now bullish.

The 1922 support failed as well as the 1903 downside target. At the next target down 1825. The expected oversold levels are 1803.

Need a close above 1853 to enter a new long trade. The expected overbought levels are 1883.

 

SILVER_ SIZ23

Weekly – In the April 2023 uptrend. Trade pressures are in the neutral zone. Volumes are neutral.

Daily – Flat. Stopped out at the 23.33 SL on 9/25. But the Friday close above 21.631 signals higher. Trade pressures are down but rising. Volumes are again bullish.

Need a pullback to validate the base, then long at at second time thru 21.63. The next target up would be 22.42.  Overbought levels are 24.61.

A close below 20.93 signals lower.  Oversold levels are expected at 21.23.

Set the SL at 21.23.

 

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COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures are consolidating in the neutral zone. Volumes remain bearish.

Daily – Flat. Price breaks below the Lower median line to test the 3.59 prior lows.  Trade pressures are down. Volumes are bullish.

At the next target down is 3.66. The expected oversold levels are 3.62.

A close above 3.74 would signal higher. Expected overbought levels are now 3.83.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are still up into the neutral zone. Volumes remain bearish.

Daily – Flat. Trade pressures are now down but rising. Volumes are now bearish.

The 1922 support has held. The next target down is 1903. The expected oversold levels are 1911.

Need a close above 1948 to enter a new long trade. The expected overbought levels are 1967.

 

SILVER_ SIZ23

Weekly – In the April 2023 uptrend. Trade pressures are in the neutral zone. Volumes are neutral.

Daily – Long. In the move up from the 23.51 entry, after rallying off the September 2022 trendline. Trade pressures are up. Volumes remain bullish.

Got the close above 23.51 to signal higher. The next target up would be 24.18.  Overbought levels are 26.62.

A close below 23.33 signals lower. The next target down is 21.52,  Oversold levels are expected at 21.27.

Set the SL at 23.33.

 

[9-25-23: Stopped out at the 23.33 level.]

 

Metals

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COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures are up into the neutral zone. Volumes remain bearish.

Daily – Flat. Still bearish but consolidating at the lower median line from 8-17.  Trade pressures are up. Volumes remain bearish.

The next target down is 3.66. The expected oversold levels are 3.71.

A close above 3.83 would signal higher. Expected overbought levels are now 3.90.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are still up into the neutral zone. Volumes remain bearish.

Daily – Flat. Trade pressures are now up. Volumes are now bullish.

The break down of the LML at 1927 signaled lower. The next target down is 1922, then 1903. The expected oversold levels are the lower lows of 1903.

Need a close above 1949 to enter a new long trade. The expected overbought levels are 1966.

 

SILVER_ SIZ23

Weekly – In the April 2023 uptrend. Trade pressures are now down. Volumes remain bearish.

Daily – Flat. In the move down, but rallied off the September 2022 trendline. Trade pressures are up into the neutral zone. Volumes are bullish.

The close below 23.88 signaled lower, then price moved back above the trendline. The next target down is 21.52,  Oversold levels are expected at 21.27.

Need a close above 23.51 to signal higher. The next target up would be 23.71.  Overbought levels are 26.62.

Metals

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COPPER_ HGZ23

Weekly – In the May 2023 downtrend. Trade pressures are up into the neutral zone. Volumes are now bearish.

Daily – Flat. Now in the move down from the 9/6 break down from the consolidation area at 3.79.  Trade pressures are down. Volumes remain bearish.

Got a pull back to 3.74. then breaks below that level. The expected oversold levels are 3.70. The next target down is 3.66.

A close above 3.89 would signal higher. Expected overbought levels are now 3.87.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are still up into the neutral zone. Volumes remain bearish.

Daily – Flat. The 200 day MA at 1980 acted as resistance. Trade pressures are down. Volumes remain bearish.

A break down of the LML at 1937 would signal lower. The next target down is 1927, then 1903. The expected oversold levels are the lower lows of 1913.

Need a close above 1953 to enter a new long trade. The expected overbought levels are 1972.

 

SILVER_ SIZ23

Weekly – In the April 2023 uptrend. Trade pressures are now testing the neutral zone. Volumes are now bearish.

Daily – Flat. In the move down from the median line touch at 25.33. Trade pressures are down. Volumes are bearish.

The close below 23.88 signaled lower. The next target down is 22.78, the August 2022 trendline. Oversold levels are expected at 21.27.

Need a close above 23.83 to signal higher. The next target up would be 24.53.  Overbought levels are 26.66.

 

Metals

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COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are down. Volumes are now neutral.

Daily – Flat. In the move up from the 3.74 trigger on 8-22.  Trade pressures are up. Volumes are now bearish.

Still waiting for a pull back to 3.73.The expected overbought levels remain 3.90.

a breakdown below 3.82 would signal lower. Oversold levels are now 3.68. The next target down would be 3.78.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are up into the neutral zone. Volumes remain bearish.

Daily – Flat. up against the 200 day MA at 1980. Trade pressures are up. But volumes are bearish.

The next target down is 1927. The expected oversold levels are at higher lows at 1928.

This pullback to 1927 might be a good time to enter a new long trade. The expected overbought levels are 1974.

 

SILVER_ SIU23

Weekly – In the April 2023 uptrend. Trade pressures are now up. Volumes are now nwutral.

Daily – Flat. In the move up from the close above the 22.83 signal. Trade pressures are up. Volumes are bullish.

At 25.31 median line resistance. The next target up is 25.76.  Overbought levels are 26.70.

A close below 23.54 would signal lower. Oversold levels are expected at 21.27.

Metals

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COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. The move down from 3.81 was stopped out at the cross above 3.75 on 8/22..  Trade pressures are down into the neutral zone. Volumes are bullish.

At the entry for the net move up at 3.74, but waiting for a pullback.  A pull back to 3.67 and then close above 3.74 would signal higher. The expected overbought levels remain 3.83.

a breakdown below 3.67 would signal lower. Oversold levels are now 3.62. The next target down is 3.61.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are down. Volumes are bearish.

Daily – Flat. The 1981 short signal on 8/2 was stopped out at the move above the 1927 level on 8/22. Trade pressures are up. But volumes are now bearish.

The next target down is 1903. The expected oversold levels are at higher lows at 1901.

Need a pullback to 1927 to enter a new long trade. The expected overbought levels are 1965.

 

SILVER_ SIU23

Weekly – In the April 2023 uptrend. Trade pressures are now up. Volumes are now bullish.

Daily – Flat. In the move up from the close above the 22.83 signal. Trade pressures are up. Volumes are bullish.

At 24.20 resistance. The next target up is 25.41.  Overbought levels are 26.35.

A close below 23.67 would signal lower. Oversold levels are expected at 20.63.

Metals

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COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Short. In the move down from 3.81.  Trade pressures are down but turning up. Volumes remain bearish.

The 3.61 target.  Oversold levels are now 3.60. The next target down is 3.51.

A close above 3.75 would signal higher. The expected overbought levels are now 3.83.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are down. Volumes are bearish.

Daily – Short. In the move down from the 1981 short signal on 8/2. Trade pressures are down. Volumes are bearish.

Thru the 1927 target. The next target down is 1903. The expected oversold levels are lower lows at 1891.

A close above 1927 would signal a trend change. The expected overbought levels are 1977.

 

SILVER_ SIU23

Weekly – In the April 2023 uptrend. Trade pressures are down. Volumes remain bearish.

Daily – Short. In the move down from the 24.39 level on 8/2. Trade pressures are down. Volumes remain bearish.

The next target down is 22.32 at the trendline support.  Oversold levels are 20.65.

A close above 22.83 would signal higher. Overbought levels are expected at 23.39.

Metals

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COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are now down. Volumes are bearish.

Daily – Short. In the move down from 3.81.  Trade pressures are down but turning up. Volumes remain bearish.

The next target down is 3.61.  Oversold levels are now 3.66.

A close above 3.75 would signal higher. The expected overbought levels are now 3.90.

 

GOLD_ GCZ23

Weekly – In the December 2022 uptrend. Still testing the support levels. Trade pressures are back down into the neutral zone. Volumes remain neutral.

Daily – Short. In the move down from the 1981 short signal on 8/2. Trade pressures are down. Volumes are bearish.

The next target down is still 1927. The expected oversold levels are lower lows at 1915.

Look for support around 1927 and failing that then 1903. A close above 1952 would signal a trend change. The expected overbought levels are 2003.

 

SILVER_ SIU23

Weekly – In the April 2023 uptrend. Trade pressures are down. Volumes are now bearish.

Daily – Short. In the move down from the 24.39 level on 8/2. Trade pressures are down. Volumes remain bearish.

The next target down is 22.19 at the trendline support.  Oversold levels are 21.17.

A close above 22.84 would signal higher. Overbought levels are expected at 23.71..