#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are up but declining. Volumes remain bearish.

Daily – Flat. now in a downward channel.  Trade pressures are down.  Volumes remain bearish.

The next target down is 3.64.  The expected oversold levels are 3.68.

A close above 3.73 would signal higher. The expected overbought levels are 3.90.

 

GOLD_ GCJ24

Weekly – In the December 2023 uptrend.  Trade pressures are in the neutral zone.  Volumes remain bearish.

Daily – Flat. Out of the downward channel and backtesting the breakout.  Trade pressures are down.  Volumes remain bearish.

the next target up is 2079. The expected overbought level is 2082.

A failure at below 2029 would signal lower.  The expected oversold level is 2014.

US dollar remains in an uptrend but facing resistance.

[2-13-24: Inflation surprises to the upside. 10yr yields up, Dollar up, Gold down.]

 

SILVER_ SIH24

Weekly – In the December uptrend, but down near support.  Trade pressures are down but rising toward the neutral zone.  Volumes remain bearish.

Daily – Flat. has traded above the Dec trend line and is now back testing.  Trade pressures are down.  Volumes are now bearish.

The next target up is the 23.71 long entry.  Overbought levels are 26.34.

A close below the LML at 22.32 would resume the downtrend.  Oversold levels are 21.62.

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are now up. Volumes are now bearish.

Daily – Flat. Pulls back to the 3.81 long entry on 1/24.  Trade pressures are down.  Volumes are now bearish.

The next target down is 3.78 3.64.  The expected oversold levels are 3.72.

A close above 3.82 3.77 would signal higher. The expected overbought levels are 3.92.

 

GOLD_ GCJ24

Weekly – In the December 2023 uptrend.  Trade pressures are rising to the neutral zone.  Volumes remain bearish.

Daily – Flat. In the move down from 2085 resistance.  Trade pressures are down.  Volumes remain bearish.

Backtesting the breakout of the downward channel. Need a reversal above 2060 to enter long. The expected overbought level is 2086.

A failure at below 2038 would signal lower.  The expected oversold level is 2013.

US dollar remains in an uptrend.

 

SILVER_ SIH24

Weekly – In the December uptrend but at support.  Trade pressures are rising toward the neutral zone.  Volumes remain bearish.

Daily – Flat. has traded above the Dec trend line and is now back testing.  Trade pressures are down.  Volumes are now bearish.

The next target up is the 23.32 long entry.  Overbought levels remain 25.98.

A close below the LML at 22.51 would resume the downtrend.  Oversold levels are 21.62.

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures rise into the neutral zone. Volumes are now bullish.

Daily – Long. In the move up from the 3.81 long entry on 1/24.  Trade pressures are up.  Volumes are now neutral.

The next target up is 3.92.  The expected overbought levels are 3.94.

A close below 3.82 would signal lower. The expected oversold levels are 3.70.

Set the SL at 3.82.

[1-30-24: Raise the SL to 3.85.]

[1-31-24: stopped out with FED comments at 3.85.]

 

GOLD_ GCJ24

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

Daily – Flat. In the move down from 2085 selling.  Trade pressures are down.  Volumes remain bearish.

in the downward channel. Need a move above 2056 to clear the channel. The expected overbought level is 2056, so not a likely long entry.

A failure at the 2032 200 day MA would signal lower.  The expected oversold level is 2000.

US dollar is in an uptrend.

 

SILVER_ SIH24

Weekly – In the December uptrend but testing support.  Trade pressures are down.  Volumes remain bearish.

Daily – Flat. has traded above the Dec trend line.  Trade pressures are up.  Volumes are now bullish.

The next target up is 23.32.  Overbought levels are 25.98.

A close below the trendline at 22.74 would resume the downtrend.  Oversold levels are 21.62.

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. In the move up from the 3.72 Lower median line.  Trade pressures are rising into the neutral zone.  Volumes are now bullish.

The next target up is 3.81.  The expected overbought levels are 3.84.

A close below 3.73 and lower median line would signal lower. The expected oversold levels are 3.69.

 

GOLD_ GCG24

Weekly – In the December 2023 uptrend.  Trade pressures are down.  Volumes remain neutral.

Daily – Flat. The retracement down to 2015 initiated a rally which failed.  Trade pressures are up.  Volumes are now bearish.

in the downward channel. Need a move above 2048 to clear the channel. The expected overbought level is 2077.

A failure at the 2048 channel resistance would signal lower.  The expected oversold level is 2006.

US dollar is in a rally.

 

SILVER_ SIH24

Weekly – In the December uptrend but testing support.  Trade pressures are down.  Volumes remain bearish.

Daily – Flat. Turned down at the back-test of the Oct trendline.  Trade pressures are down.  Volumes are now bearish.

The nest target down is 22.29.  Oversold levels remain at 21.61.

A close above 23.11 would signal higher  Overbought levels are 24.57.

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are down. Volumes are now bearish.

Daily – Short. In the move down from the 3.83 level.  Trade pressures are down.  Volumes remain bearish.

The next target down is 3.70.  The expected oversold levels are 3.71.

A close above 3.83 and the confluent  200 day MA would signal higher. The expected overbought levels are 3.91.

[1-12-24: Lower SL to 3.79. Set profit stop at 3.71]

[1-15-24: Stopped out at 3.79.]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend.  Trade pressures remain in the neutral zone.  Volumes remain neutral.

Daily – Flat. The retracement down to 2015 initiated a rally.  Trade pressures are up sharply into the bullish. Volumes turned bullish.

Missed this 2017 long trade. The next target up is 2084. The expected overbought level is 2084.

a close below 2034 would signal lower.  The expected oversold level is 2010.

Watch the US dollar for a rally, which could take gold down below the 200 day (2015).

 

SILVER_ SIH24

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

Daily – Flat. in a new retracement up within the down move..  Trade pressures are up.  Volumes are now bullish.

At the 23.46 test of resistance at the October trend line. The nest target down is 22.26.  Oversold levels remain at 21.62.

A close above 23.79 would signal higher  Overbought levels are 24.63.

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – In the December 2023 uptrend. Trade pressures are down into the neutral zone. Volumes are now neutral.

Daily – Short. In the move down from the 3.83 level, and at 3.80 support.  Trade pressures are down.  Volumes are bearish.

The next target down is 3.71.  The expected oversold levels are 3.82.

A close above 3.86 and the confluent  200 day MA would signal higher. The expected overbought levels are 3.94.

Use 3.86 as the SL.

[1-9-24: Lower SL to BE ,3.83.]

[1-12-24: Lower SL to 3.79. Set profit stop at 3.71]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend.  Trade pressures remain in the neutral zone.  Volumes remain neutral.

Daily – Flat. In the move up from 2060 on 12/22.  The retracement down has taken price below the long entry.  Trade pressures are down into the neutral zone. Volumes remain neutral.

Reached the upside target of 2097. The next target up is 2065. The expected overbought level is 2100.

The lower channel bound and the 200 day MA meet at 2014 in mid January.  The expected oversold level is 2036.  Look for a new long entry between 2014 and 2036.

Watch the US dollar for a rally, which could take gold down below the 200 day.

[1-9-24: Looking for Long around 2015.]

 

SILVER_ SIH24

Weekly – In the new December uptrend.  Trade pressures are down.  Volumes are now bearish.

Daily – Flat. The selloff continues.  Trade pressures are down.  Volumes are bearish.

At the 23.26 target. The nest target down is 22.25.  Oversold levels remain at 21.62.

A close above 23.81 would signal higher  Overbought levels are 24.21.

#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – In the new December 2023 uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. In the move up from 3.81, but now pulling back from the 3.96 target.  Trade pressures are down.  Volumes are bearish.

The next target up is 4.10.  The expected overbought levels are 3.96.

A close below 3.83 and the confluent  200 day MA would signal lower. However, the expected oversold levels are 3.82.

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend, with the decisive break above the 2048 the resistance levels which have been back tested and now moving higher once again. Trade pressures remain in the neutral zone. Volumes remain neutral.

Daily – Flat. In the move up from 2060 on 12/22.  Now at the upper channel boundary and retracing. Trade pressures are down into the neutral zone. Volumes remain neutral.

Reached the upside target of 2097. The next target up is 2113. The expected overbought level is 2101.

A close below 2064 would signal lower. The lower channel bound and the 200 day MA meet at 2014 in mid January. The expected oversold level is 2026.

Watch the US dollar for a rally, which could take gold down.

 

SILVER_ SIH24

Weekly – Now in the new December uptrend.  Trade pressures have risen into the neutral zone.  Volumes remain neutral.

Daily – Flat. Attempted a rally but failed at the end of the month with a sharp selloff.  Trade pressures are down.  Volumes are bearish.

The next target down is 23.26. Oversold levels remain at 21.62.

A close above 24.91 would signal higher  Overbought levels are 25.01.

#copperfutures #goldfutures #silverfutures    [Contracts rollover]

COPPER_ HGH24

Weekly – In the new December 2023 uptrend. Trade pressures remain up but turning down. Volumes remain bullish.

Daily – Long, from the 3.81 resumption of the uptrend on 12/8.  Trade pressures are up. Volumes remain bullish.

The next target up is 3.96.  The expected overbought levels are 3.93.

A close below 3.73 would signal lower. Expected oversold levels remain at 3.71.

[Use 3.73 as the SL]

[12-14-23: Raise SL to BE, 3.81.]

[12-19-23: Take profits at 3.92, the overbought level.]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend, with the decisive break above the 2048 the resistance levels now in a complete retracement. Trade pressures are down into the neutral zone. Volumes are now neutral.

Daily – Flat.  After the retracement to the 200 day MA, the FED rally ran gold up to touch the new entry price of 2060. Trade pressures are up. Volumes are neutral.

Reached the 1992 target down.  Support is at 1987, just below the expected oversold levels of 1988.

Did not take new long entry at 2045 because of the gap up. looking for a break out of the downward channel.  The expected overbought levels are now 2090.

 

SILVER_ SIH24

Weekly – Now in the new December uptrend.  Trade pressures are down.  Volumes are neutral.

Daily – Flat. gapped up with gold and out of the downward channel.  Trade pressures are up.  Volumes are bullish.

Tested the target down at 22.98.  Support levels are at 22.99.  Oversold levels are below at 21.62.

The 12/13 close above 23.78 signaled higher, but waiting for a back-test in the low 23’s.  Overbought levels are 25.09.

#copperfutures #goldfutures #silverfutures    [Contracts rollover]

COPPER_ HGH24

Weekly – In the new December 2023 uptrend. Trade pressures remain up but turning down. Volumes remain bullish.

Daily – Long, from the 3.81 resumption of the uptrend on 12/8.  Trade pressures are up. Volumes remain bullish.

The next target up is 3.91.. The expected overbought levels are 3.91.

A close below 3.73 would signal lower. Expected oversold levels remain at 3.71.

[Use 3.73 as the SL]

[12-14-23: Raise SL to BE, 3.81.]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend, with the decisive break above the 2048 the resistance levels in a complete retracement. Trade pressures are up. Volumes are now bullish.

Daily – Flat.  In the retracement down of the sharp move up on 11/28. Trade pressures are down. Volumes are bearish.

The next target down is 1992.35. Support is at 1991, below the expected oversold levels of 2006.

A new long entry entry would be signaled with a close above 2045. The expected overbought levels are now 2099.

 

SILVER_ SIH24

Weekly – Now in the new December uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. Crashing from those prior highs. Trade pressures are down. Volumes are bearish.

The next target down is 22.98. Oversold levels are below at 21.62. Support levels are at 22.99.

A close above 24.41 would signal higher.  Overbought levels are 25.11.

 

#copperfutures #goldfutures #silverfutures    [Contracts rollover]

COPPER_ HGH24

Weekly – Broken out of the May 2023 downtrend, now in the new December 2023 uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Long, from the 3.86 break above the 200 day MA resistance on 12/1. Breaks above the 200 day MA.  Trade pressures are up. Volumes are now bullish.

Missed the break out. Will wait for an entry lower around the 3.80 level. The expected overbought levels are 3.88.

A close below 3.82 would signal lower. Expected oversold levels remain at 3.70.

[12-5-23: Now 3.78. Breaks back below the 200 day MA. Support at 3.70.]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend, with a decisive break above the 2048 the resistance levels. Trade pressures are just up out of the neutral zone. Volumes are now bullish.

Daily – Flat.  In the new move up from the break above the UML and 2037 on 11/28. Trade pressures are up. Volumes remain bullish.

The next target up is 2101. The expected overbought levels is 2054.

A new short entry would be signaled with a close below 2041. The expected oversold levels are now 1991.

[ 12-5-23: Now 2034. Ripped higher to the 2152 upside target and then gives it all back. 2076 was the short entry; missed. Now looking for an opportunity to go long around 2000.

 

SILVER_ SIH24

Weekly – Now in the new December uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. In the move up after the break above the 200 day MA from 23.87 on 11/24. Trade pressures are up. Volumes remain bullish.

The next target up is 26.29. Overbought levels are below at 25.09.

A close below 24.90 would signal lower.  Oversold levels are 24.81.

[12-5-23: Silver down with the other metals. Short entry was 25.16 after the spike up. Now support at the back-test of the 200 day.]