COPPER_ [Sept ’15 contract]

Weekly – HG resumed the move down and has now reached the 2.32 target. Trade pressures are down. Volume has turned bearish after two weeks of neutral. Next weekly target down is 2.01.

Daily – In the move down from 2.56. The 2.40 target has been reached. The next target down is 2.25. Trade pressures are down. Volume is bearish.

A close above 2.44 is required to reverse this short trade.

GOLD_

Weekly – two weeks of consolidation after the 1142 breakdown three weeks ago. Trade pressures remain down. Volume is bearish. Weekly still targeting the 1046 level.

Daily –  The move is down from 1193. The 1130 target provided no resistance. The next target down is 1066. Trade pressures are down. Volume has turned bearish from bullish.

Need a close above 1108 to signal higher.

SILVER_

Weekly – Trade pressures are down. Volume has turned neutral from bearish. Weekly target now 9.19.

Daily –   Consolidating at the 14.66 target. Trade pressures are down but rising. Volume remains bearish.

Need a trade close above 14.83 to signal higher.

COPPER_

Weekly – Trade pressures are down. Volume is neutral. The 2.40 level has broken down. Weekly downside targets are now in the 2.00-2.20 area.

Daily – the bounce off the 2.40 prior lows two weeks ago generated a short covering rally which turned back down this last week. That rally moved up to test the 2.56 prior pivot low, now resistance. 2.56 became a short entry.

SOM missed that trade.

The next target down was at 2.40 also the January 2015 lows which was met last week. The next target down is 2.25. Trade pressures are down. Volume is bearish.

Need a trade close above 2.48 to stop and reverse this down move.

GOLD_

Weekly – Trade pressures are down. Volume is bearish. The 1046 target is still active.

Daily – The move down the prior week accelerated this last week. Consolidating around a short term target of 1093. The next target down is 1066. Trade pressures are down. Volume has changed to bearish from neutral.

SILVER_

Weekly – Trade pressures are down. Volume remains bearish. Price is attempting to test the 14.18 low pivot. 11.20 is the next weekly target down.

Daily – Trade pressures are down. Volume is bearish. The 14.66 target is now resistance. The next target down is 13.91.

Need a close above 14.90 to trigger a new long entry.

COPPER_

Weekly – After the the retest of the 2.39 January low pivot, consolidation appears to begin. Trade pressures are down Volume is neutral after a week of short covering. Next weekly target down is 2.32.

Daily – No trade. Trade pressures are down. Volume is bearish. The long entry price is 2.50, but no confirmation yet.

GOLD_

Weekly – Retesting the October ’14 low of 1130. The next target down is 1046. Trade pressures are down. Volume is bearish.

Daily – No trade. A definite down trend but no entry signal til late in the move. Trade pressures are down. Volume is bearish.

A move above 1149 could signal higher.

SILVER_

Weekly – still in the long term downtrend with 10.70 as the target. Trade pressures are down. Volume is bearish after last week’s bullish volume week.

Daily – Consolidating at the 14.66 target that was met last week. Trade pressure are down. Volume is bearish. So, no trade signal yet.

A close above 15.15 could signal higher.

COPPER_

Weekly – The Chinese market swings have been reflected in the copper prices. The January lows have been retested and as a result the first quarter’s up-move is stopped. Trade pressures are down but volume has turned decidedly bullish, probably reflecting short covering.

Daily – Trade is flat.  Two days hard down and thru the 2.49 target and then a reversal back up to the 2.49 target. This price action stopped the trade at the 2.49 downside target for a $.21 move. Trade pressures are up volume is mixed, closing bearish at the weeks end.

GOLD_

Weekly – Remains in the long trend down. The old 1142 down side target area has been tested for the third time. A break would signal lower to the 1046 weekly target. Trade pressures have turned back and are now neutral. Volume remains bearish.

Weekly time pressures are down and will end in the first week of September.

Daily – While in the downtrend, no trade has been signaled. Trade pressures are neutral. Volume is bearish.

SILVER_

Weekly – In the long term downtrend, Downside target remains 10.70. Trade pressures are down. Volume has turned bullish.

Daily –  the May 19th downside trade has completed, meeting the 14.66 extended downside target for a 2.70 move. Trade pressures have turned neutral. Volume is neutral.

COPPER_

Weekly – Still in the long term move up from the 2.63 weekly entry. Trade pressures are down but fully extended. Volume remains bearish. A break below the 2.39 low would stop this trade.

Daily – The daily is pulling back inside that weekly trade. The short entry was 2.70 to the first target of 2.59, now the next target area down is 2.49-2.52. Trade pressures have moved up to neutral, so move any stops down to the entry price of 2.70. Volume is bullish.

[Update 7/7: the china market collapse sends copper down thru the 2.49 target. The next target down is 2.32. Move stops to the 2.59 target.]

A new move up would be signaled by a close above 2.68. [7/7 – Now need a close above 2.52.]

GOLD_

Weekly – Mixed signals. Trade pressures are up. Volume is bearish. Downside target remains 1046.

Daily – The pullback below 1184 did occur, but no new close above that long entry price has kept the trade flat. The June lows have been tested, but no close below which would activate the 1130 downside target. Trade pressures are down to neutral. Volume just turned bullish from bearish.

SILVER_

Weekly – In the long term downtrend, Downside target remains 10.70. Trade pressures are down. Volume remains bearish.

Daily – In the short trade for the 17.36 target went quickly to the 15.88 target, now in consolidation. The next target down is 14.66. Trade pressures are down. Volume is bearish to neutral.

Need a close above 15.90 to start a new move up. Use that as a stop also.

 

COPPER_  Follows the China economy.

Weekly – Has been in a move up from the 2.62 long entry in January and reached the 62% Fibonacci retracement. Trade pressures are down. Volume has been bearish for four weeks.

Daily – Trade pressures are down but showing divergences. Volume went neutral late last week but has returned to bearish all this week. A new short cycle signaled a short trade at the short entry of 2.70. the first downside target of 2.59 has been met and the next target down is 2.49.

Need a close above 2.68 to stop and reverse this trade.

 

GOLD_ The precious metals are attempting a rally in response to the Greek confusion.

Weekly- Trade pressures have turned up. Volume remains bearish. the 1046 downside target remains.

Daily – Trade pressures are up. Volume has been bullish for two days. The 1175 downside target has acted as support. The close above the 1184 reversed the trend.

Look for a pull back to the 1184 for a new long entry.

 

SILVER_

Weekly – Downtrend. Trade pressures are down but extended. Volume is low but still bearish. 10.70 remains the downside target.

Daily – Downtrend also. Trade pressures are down but showing divergence. Volume is bearish. The 15.81 target has acted as support. The next target down is 14.59.

Stops at 16.64.

COPPER_

Weekly – The first quarter trade had a run up to the first target and a confluence of the 61% retracement of the 2014 move down. Then in early May, the Chinese economy sent slowing signals and copper began a move down. Trade pressures are down. Volume is bearish for these last three weeks.

Daily – The trade is down and now at the 2.66 target. Trade pressures are down but turning up. Volume has turned neutral from bearish. The next target down is 2.56.

a close above 2.78 will signal higher.

GOLD_

Weekly – The downtrend is steady and unabated. Trade pressures are down but fully extended. Volume is bearish.

Daily – The May rally was stopped at the 1234 100 target of the March cycle. The retracement downside move from 1218 started and has met the 100% target of 1175. The next target down is 1140. Trade pressures are down but rising quickly. Volume has been neutral for two weeks.

A close above 1184 will signal higher.

SILVER –

Weekly – Stuck in a sideways move and still in the downtrend with a weekly target of 10.70 still active. Trade pressures are down. volume is bearish.

Daily – Back in the downtrend. Volume is bearish. Trade pressures are down hard. The down move has met the 15.81 target. The next target down is 14.59.

A close above 16.35 would signal higher.

COPPER_

Weekly – Trade pressures are down. Volume is bearish.

Daily – Completed the trade down to the 2.66 target. Trade pressures are down. Volume us bearish. The next target down is 2.56.

A close above 2.79 would restart the move up.

GOLD_

Weekly – Back below the 25×5 moving average. Trade pressures are down. Volume has changed to bearish from neutral. 1046 remains the weekly downside target.

Daily – In the short trade from 1193. The next target down is 1130. Trade pressures are down and fully extended. Volume remains bearish.

Move the stop to the 1193 entry price.

A close above 1184 would also signal a retracement up.

SILVER_

Weekly – Still in a sideways channel in a down trend. Trade pressures are down. Volume has change from neutral to bearish. the 10.70 price is still the weekly target.

Daily – stopped out at the 16.33 long entry.

A close above 16.48 would restart the long trade.

COPPER_

Weekly – after rising above the 25 moving average, price has now pulled back to test that break out. Trade pressures are up. Volume has turned bearish from bullish. The next target up remains 3.005.

Daily – Stopped out last week at the 2.81.  The new short trade is from 2.76 with a 2.68 target.  Trade pressures are down. Volume is bearish.

A trade close above 2.86 would stop this short trade and signal higher.

GOLD_

Weekly – still in the downtrend. Trade pressures are down. Volume is neutral from last week’s bullish. the 1045 downside target is still in place.

Daily – the 1190 was the stop from the 1184 long entry and it was triggered for a 6 pt gain. A second close below the 1193 short entry will trigger the new short. the next target down is 1130. Trade pressures are down. Volume is bearish.

A close above 1200 is the stop.

SILVER_

Weekly – still in the downtrend with the 10.70 target in place. Trade pressures are up. Volume has changed to neutral from bullish.

Daily – In the long trade from 16.33, did not reach the 17.89 target. Now in a retracement of the up-move. Need a close above 17.16 to restart the move up.

Stops are still 16.33

COPPER_

Weekly – The 2.90-3.00 resistance is holding. Trade pressures are up. Volume is bullish.

Daily – The 2.94 prior high pivot and the 2.91 target has stopped the move up. The trade is stopped out at 2.81 which is also the 25×5 moving average.  Trade pressures are down. Volume is bearish down from last weeks neutral.

A close below 2.73 would signal lower. Could restart the move up with a close above.2.86.

GOLD_

Weekly – Still in the downtrend. Trade pressures are still down. But volume closed bullish. next target down remains 1045.

Daily – The trade is still long from the 1184 long entry and a confirming long signal at 1190. That long signal is the stop price. The next target up is 1253. Trade pressures are up but decling. Volume has changed from neutral to bearish.

SILVER_

Weekly – Trade pressures are starting to show signs of moving into positive territory. Volume is bullish. Still in the downtrend with targets at 10.70/

Daily – In the uptrend. Trade pressures are up, declining slightly. Volume is neutral. Trade is long from 16.33 and has moved thru the 17.03 target. the next target up is 17.89.

Stops at the 16.33 entry.