#copperfutures #goldfutures #silverfutures

COPPER_ HGZ18  (roll to December)

Weekly – Remains in the downtrend. Trade pressures are down and trending. Volumes are bearish. the next weekly target down is 2.36.

Daily – Flat. In the move up from the 2.74 long entry. Trade pressures are down into the neutral zone. Volumes have turned down into the weekend. The 25×5 moving average has acted as resistance as expected. The second time thru the 2.74 should be a trigger.

GOLD_ GCZ18

Weekly – Bounced off the Oct 2017 lows. Trade pressures remain down. Volumes remain bearish.

Daily – Flat. The retracement move up was triggered at the 1197 level. But waiting for confirmation thru the 25×5 moving average. Trade pressures are up but have turned down. Volumes remain bullish.

The next target up is 1245, if price gets thru the 25×5 moving average.

While still in the down tend, a close blow 1169 would signal lower once again.

 

SILVER_ SIZ18

Weekly – Remains in the downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. In the move up after crossing thru the 14.92 long entry. Trade pressures are up. Volumes are bearish.

As with gold, waiting for confirmation above the 25×5 moving average.

The next target up is 15.71.

14.43 is the downside target and the prior low.

COPPER_ HGU18  #copperfutures

Weekly – In the move down. Trade pressures are down and trending. Volumes are bearish.

Daily – Flat. Has traded up thru the 2.64 trigger for a retracement up. Trade pressures are up into the neutral zone. Volumes are neutral to bullish.

The 25×5 moving average at 2.70 is acting as resistance. Wait for that resistance to be breached. The next target up is 2.77.

A close below the low pivot at 2.56 would act as the stop.

 

GOLD_ GCZ18  #goldfutures

Weekly – Has traded down to the 1178 downside target. Trade pressures are down but rising slightly. Volumes remain bearish.

Daily – Flat. In a new retracement move up from the 1197 entry. Trade pressures are up into the neutral zone. Volumes are neutral to bullish.

The next target up is 1245, but need to get thru the 25×5 moving average at 1213 first.

A close below the low pivot at 1187 would be the stop.

 

SILVER_ SIU18  #silverfutures

Weekly – Remains in the move down. Trade pressures are down and trending. Volumes remain bearish.

Daily – Flat. In the move down from the 17.09 level. Trade pressures are down. Volumes are bearish to bullish.

14.80 is the new retracement long entry and has been tested once and failed.

The next target down is 13.91.

A close above the 15.03 and the 25×5 moving average would signal higher.

COPPER_ HGU18  #copperfutures

Weekly – In the weekly downtrend. Trade pressures are down. Volumes are bearish. Near a time cycle low.

Daily – Flat. The 2.68 target was touched, and after a small rally that level was retested early in the week and then failed a few days after the dollar futures broke above 95. Trade pressures are down. Volumes are now neutral.

Consolidating around the 2.68 target level.

Need a close above the 2.72 long entry trigger and the 25×5 moving average to get a new move up.

 

GOLD_ GCZ18  #goldfutures

Weekly – At a retest of the late 2017 lows. Trade pressures are down and extended. Volumes are  bearish.

Daily – Flat. At the end of a move down from the 1300 short entry level.
Trade pressures are down. Volumes are now bullish.

At the 1172 downside 3rd target and consolidating. The next target down is 1159.

A close above 1204 and the 25×5 moving average would signal a retracement move up.

 

SILVER_ SIU18  #silverfutures

Weekly – 10 weeks down. Trade pressures are down and extended. Volumes remain bearish.

Daily – Flat. At 14.31, the 1st target down of the second leg down. Trade pressures are down. Volumes are now neutral.

The next target down is 13.45.

A close above 14.80 would start a retracement up.

COPPER_ HGU18  #copperfutures

Weekly – Down to the prior weekly long entry which is the new short entry. Trade pressures are down and extended. Volumes remain bearish.

Daily – Flat. Moved down to the 2.68 target then moved up thru the new long entry. Trade press uses are up into the neutral zone. Volumes are bearish.

Consolidating at the new long entry. Need a move above the 25×5 moving average to confirm the second attempt at a new long trade.

The next target down is the weekly prior low at 2.57

 

GOLD_ GCZ18  #goldfutures

Weekly – Remains in the move down and thru the 1229 target. Trade pressures are down and trending. Volumes are bearish. The next weekly target down is 1129.

Daily – Flat. Continuing the move down – dollar up gold down? Trade pressures are trending down. Volumes remain bearish.

The next target down is 1182.

1226 is the new long entry, but need confirmation above the 25×5 moving average.

 

SILVER_ SIU18  #silverfutures

Weekly – In the move down and below the 15.65 downside target. Trade pressures are down and extended. Volumes are bearish.

Daily – Flat. As with Gold the precious metals are in consolidation and in a trigger for a new move up. Trade pressures are up into the neutral zone. Volumes remain bearish.

The next target down is the weekly 13.46.

A close above the 15.48 has occurred and has signaled a new long entry. But, must \wait for a move thru the 25×5 moving average to confirm.

COPPER_ HGU18  #copperfutures

Weekly – At the confluence of the prior long entry in early 2017 and the new multi year short entry at 2.71. Trade pressures are down. Volumes are neutral to bearish.

Daily – Flat. The prior attempt at a new long trade ran to the first target and the quickly retraced to get stopped out at the entry price. Trade pressures are down once again. Volumes are still bullish.

Also sitting on the long entry price of 2.76 but with downward pressures, need to wait for a crossover of the 25×5 moving average for confirmation.

 

GOLD_ GCZ18  #goldfutures

Weekly – Hard down in this move . Trade pressures are down and extended. Volumes are bearish.

Daily – Flat. Lots of short term trading opportunities reflective of the extended nature of this move down. Trade pressures are down and trending. Volumes are bearish to bullish.

The next target down is 1182.

1226 is the next long entry. but must wait for the trade pressures to change.

 

SILVER_ SIU18  #silverfutures

Weekly – At the first weekly target down. Trade pressures are down. Volumes are bearish.

Daily – Flat. At the 4th target down and showing consolidation. Trade pressures are down but rising. Volumes are bearish to bullish.

The next target down is the weekly 13.46 level.

A close above 15.48 would signal higher. But, as with gold, would want a confirmation of a close above the 25×5.

 

COPPER_ HGU18  #copperfutures

Weekly – The prior weekly long entry has held as support foe two weeks. Trade pressures are down. Volumes are bearish.

Daily – Flat. At the end of the move down from the 3.24 short entry. Trade pressures are down and trending. Volumes closed bullish on Friday.

At the 2.68 downside target.

A close above 2.76 would signal the start of a retracement trade up. Should see that in the next session?

GOLD_ GCQ18  #goldfutures

Weekly – The 1210 low touched the 1212 downside target and closed at 1231. Trade pressures are down. Volumes closed as bullish.

Daily – Long. The close above the 1224 long entry signals a retracement up. Trade pressures are down. Volumes are now bullish.

The next target up is 1247.

Set the stop at the 1210 low.

 

SILVER_ SIU18  #silverfutures

Weekly – Also at the weekly target levels. Trade pressures are down. Volumes are bearish.

Daily – Flat. At the 15.22 downside target. Trade pressures are down but showing divergences. Volumes are now bullish.

The 15.48 entry level has been triggered.  (But Gold is easier to trade, so – pass.)

The next target up is 16.97.

The stop is the 15.18 low pivot.

COPPER_ HGU18  #copperfutures

Weekly – Back to the July 2017 long entry price at 2.74. Trade pressures are down. Volumes remain bearish. Tariffs up, copper down?

Daily – Flat. Very near the final  2.68 downside target. Trade pressures are down and trending. Volumes remain bearish.

The next target down is the 2.68 level.

A close above 2.80 would signal a retracement of the move down.

 

GOLD_ GCQ18  #goldfutures

Weekly – In the weekly move down to the weekly 1212 target . Trade pressures are down and trending. Volumes are bearish.

Daily – Flat. The attempt at a new move up failed. The stops kept the loss at a break-even. Trade pressures are down but rising. Volumes are bearish once again.

The next target down is 1222.

A close above 1250 would signal another attempt at a retracement up of this move down.

 

SILVER_ SIU18  #silverfutures

Weekly – Testing prior lows. Trade pressures are down. Volumes are bearish.

Daily – Flat. Continuing the move down after a 4 day run up to test the start of a new move up. Failed. Trade pressures are down but rising. Volumes remain bearish.

The next target down is 15.40.

A close above 16.00 would signal another attempt at a retracement higher.

COPPER_ HGU18  #copperfutures

Weekly – Almost back to the June 2017 weekly long entry. Trade pressures are down. Volumes remain bearish.

Daily – Flat. Tariffs up, Copper down. Trade pressures are down and extended. Volumes are bearish turning neutral.

The next target down is 2.68.

A close above 2.86 would signal a retracement up.

 

GOLD_ GCZ18  goldfutures

Weekly – 12 weeks in this move down. Trade pressures are down and extended. Volumes remain bearish.

Daily – Long. The lower median line of the Andrews Pitchfork has acted as support. Trade pressures are down but rising. Volumes have changed to bullish.

The next target down is 1222.

A close above 1252 has occurred and triggered the new long entry for a retracement trade. As this is a retracement move inside the prevailing downtrend, take the first profit target at 1276.

Use the low pivot at 1238 as the stop.

[7-9-18: Raise the stop to the entry price of 1252]

[7-10-18: stopped out in the early AM @ $1252; breakeven]

 

SILVER_ SIU18  #silverfutures

Weekly – 4 weeks down on this move. Trade pressures are down into the neutral zone. Volumes remain bearish.

Daily – Flat. In the move down. At the pitchfork median line. Trade pressures are down, but rising. Volumes are bearish.

The next target down is 15.22.

A close above 16.10 would signal a retracement move up in this downtrend.

 

COPPER_ HGU18   #copperfutures

Weekly – Third week down. Trade pressures are down. Volumes remain bearish.

Daily – Flat. In the rapid move down from the 3,24 (new contract) level. Trade pressures are down and extended. Volumes remain bearish.

The next target down is 2.93.

A close above 3.02 would signal higher.

 

GOLD_ GCQ18  #goldfutures

Weekly – In a new weekly move down. Trade pressures are down. Volumes remain bearish.

Daily – Flat. In the move down from the 1315 level. Trade pressures are down. Volumes are bearish.

The next target down is 1222.

A close above 1261 would signal higher.

[7-4-18: Closed above the adjusted long entry of 1258 in holiday trading. Watch the 60 min tomorrow and enter as the trading pressures turn down and then back up.]

 

SILVER_ SIU18  #silverfutures

Weekly – Moving down toward the Dec 2017 lows. Trade pressures are down into the neutral zone. Volumes are mixed, neutral to bearish.

Daily – Flat. In the move down and now consolidating at the 16.06 target. Trade pressures are down and extended. volumes are mixed bearish to neutral.

The next target down is 15.22.

However, a new long entry trigger is at a nearby 16.26.