COPPER_   testing higher levels off the the consolidation at the 2.39 weekly target lows.

Weekly – Trade pressures are up. Volume is bullish. Price consolidating at the 2.68 upside retracement target.

Daily – Trade pressures are up but extended. Volume is bearish. The short cycle long trade is complete having met the 2.70 upside target.

A retracement down to the 2.52 target is likely.

GOLD_  Dollar up. Gold down.

Weekly – Trade pressures are up but turning down. Volume is bearish.  1107 is the next weekly target down.

Daily – Trade pressures are down. Volume is Bearish. Price has broken down thru the 1182 target and is looking at a test of the recent lows at 1130.

Need a trade above 1206 to restart any new move up.

SILVER_ still tracking gold.

Weekly – Trade pressures neutral. Volume is bearish. the 14.33 target is support.

Daily – Trade pressures are down. Volume is bearish. In a short trade from the 16.68 entry. The next target down is 13.69.

A close above the 16.67 level could signal higher.

COPPER_  The industrial metal is showing some strength. (Now in the May contract. All targets are adjusted.)

Weekly – While still in the downtrend, the trade pressures have come off the bottoms and show some signs of turning. Volume has turned  bullish from last weeks bearish.  The close above 2.60 is the setup for a weekly confirmation of the move up.

Daily – As expected, price consolidated between two cycle targets, the long cycle extended target of 2.48 and the December cycle target of 2.36. Now in the long entry from 2.50 and at the first target of 2.67. The next target up is 2.84. Trade pressures are up. Volume is bullish.

The trade fails with a close below the MA, currently 2.55.

GOLD_  Inflation never came.

Weekly – the long basing pattern above the 1142 target continues. Trade pressures are up. volume has been bearsh for the last three weeks. need to break above the trend line at 1300.

Daily – giving back almost all of the January rally. Still in the move down to the 1162 target. Trade pressures turned up in the latter part of the week. Volume turned bullish from bearish.

Need a close above 1232 to signal the long entry.

SILVER_ same behavior as gold with a little less energy.

Weekly – Trade pressures at neutral. Volume is bearish. Need a close above 21.46 to confirm any move up.

Daily – In the move down to 13.69. Trade pressures are up. volume has turned neutral from bullish – conflicting signals here.

A close above 17.14 would signal higher.

COPPER_
Weekly – the trade pressures have been down for months and now are showing a small bit of lift. Volume has been neutral suggesting some accumulation, but turned back to bearish last week. The old 2.64 target acting as resistance.

Daily – in the long trade from the 2.52 entry price. The next target up is 2.69 but the 2.53 pivot is acting as resistance. Trade pressures are neutral. Trade volume is bullish.

a close below 2.56 would signal lower.

GOLD_
Weekly – Price closed down for each of the last four weeks. Volume has been bearish for these last two weeks. Trade pressures are up but rolling over. The recent low of 1141.50 is support.

Daily – the trade is short from the 1279 entry price. Price has traded down thru the first 1231 target. the next target down is 1182. Trade pressures are up. Volume is bearish.

Need a trade close above 1239 to signal higher.

SILVER_
Weekly – could not close above the moving average and has pulled back. 14.00 is the support level and the next target down is 10.70. Weekly trade pressures are neutral. Volume is bearish.

Daily – remains in the move down from the 16.66 short entry. the next target down is 13.69, but the pivot at 15.53 is near term support. Volume is bearish. trade pressures are down.

Need a close above 17.22 to signal higher.

COPPER_ still in the long term down move.  Thought to be a barometer of the industrial capex activity. And because the world’s capex follows growth, Copper currently is a measure of the internal growth in China.

Weekly – Trade pressures are down and extended; no significant divergence present. Volume is Neutral.
Trading below the prior weekly target of 2.64. The next weekly target down is 2.32.

Daily – Have completed the trade down to the 2.41 target. Now in the the retracement trade up form the 2.52 long entry. The next target up is 2.69. Finding some resistance here at the down-sloping moving average. Trade pressures are turning up from neutral. Volume is bullish.

GOLD_ reached the down-side target of 1142 in October of 2014.  The trend line across the recent upper pivots has stopped the retracement up.

Weekly – Trade pressures are up, but the Volume has turned bearish.  look to the daily for some deconstruction.

Daily – in the down trade from 1278.  The 1231 first target has been met. The next target down is 1182. Trade pressures are down but extended. Volume is bearish.

Need a trade close above 1255 to restart the move up.

SILVER_ similar price action to gold.

Weekly – in a retracement up. Stalled at the moving average. Need a close above 21.48 to confirm a long term move up. Trade pressures are up. Volume is bullish.

Daily – has been in a upward retracement to the first target of 18.22.  Pulling back and testing the new short entry at 16.64.  Need a close above 17.46 to restart the move up.

COPPER_ Still reflecting uncertainty.

Weekly – The trade pressures are still down. But volume has been neutral for three weeks now. So some directional change is possible. The weekly trade is still down with the 2.32 target next.

Daily –  The daily trade is up from the long entry of 2.52 inside the weekly move down; so most likely short covering. The next target up is 2.69, but expect resistance at the 2.63 pivot.  Trade pressures are up. Volume is bullish.

A close below 2.48 would signal.lower.

GOLD_ after reaching the 1142 downside target on the weekly, Gold has been grinding higher in a retracement move up.

Weekly – Trade pressures are up. Volume is bullish. These last three weeks have seen a pullback to the moving average. Need a close above 1426 to confirm a long term move up.

Daily – consolidating at the 1304 upside target. In the middle of a retracement down to 1230.  Trade pressures are down. Volume is bearish.  The next target down is 1182.  Need a close above 1271 to restart the move up.

SILVER_ is testing the lows of 14.00.  everything is on very low volume.

Weekly – Trade pressures are up. Volume is changed from bearish to neutral. The weekly next target down remains 10.70.

Daily – The trade is in a retracement down for the upside target of 18.22. The next short entry is a close below 16.66 with a downside target of 13.69.

COPPER_ testing the 2.41 downside target last week.

Weekly – trade pressures are down. volume is neutral.
the next weekly target down is 2.32.

Daily – Consolidating at the 2.41 target. Trade pressures are turning up.
Volume has turned neutral from bearish.

need a close above 2.52 to start a new move up.

GOLD_ trade to the 1304 target and closed below a retracement short entry.

Weekly – Trade pressures are up Volume is bullish. Appears to have bottomed at the 1142 level. However need to take out the 1426 pivot to confirm a long term up-move.

Daily – Trade pressures have turned down. Volume is bearish. The Trade is short from the 1286 entry price with a 1231 downside target.

SILVER_ trading with gold.

Weekly- Trade pressures are up. Volume is bearish. Next target down is 10.70. Need a weekly close above 21.47 to start a new move up.

Daily – Long from 15.61. The next target up is 18.22 which has been reached. In a pull back for the 18.22 target to the moving average. Trade pressures are down. Volume is neutral.

 

COPPER_  Each contract represents 25,000 lbs, so a move of a penny is worth $250. A sharp drop down thru the weekly 2.64 target with a spike down to the daily 2.41 target, then rallied to close at the 2.64. China reports GDP on Jan 20th.  Copper is often viewed as an economic barometer.

Weekly – Trade pressures still down but the net volume now shows bullish after that rally of the lows.
the next target down is 2.32.

Daily – the 2.41 target was almost touched with the 2.42 low. So a 20 point spike down and a 20 point rally equals 40 points (pennies) in one day.
Trade pressures are now up. Volume is neutral for the day.
the trade is long from 2.52 with a 2.70 target.

GOLD_ It is a 100 oz. contract and the mini is a 33.2 troy oz contract. Viewed by some as a safe haven currency, others as a shiny rock.  Gold responds to currency dislocations, such as the Swiss Franc this week.

Weekly – The trade pressures are up. Volume is bullish for these last two weeks.
The long cycle won’t trigger a long entry until a close above 1426.

Daily – Long from the 1193 entry, traded to the first target last week and these last two days have taken gold to the 1276 target.
the next target up is 1344.

SILVER_  comes in a 5000 oz and a 1000 oz contract. Tracks gold, but more volatile.

Weekly – Trade pressures are up. volume is bullish.
the next long entry is 21.47.  the target down is still 10.70.

Daily – long from the 15.61 entry. the next target up is 18.22.
Trade pressures are up. volume is bullish.

COPPER_  the metal of infrastructure and building. In a 4 year decline.

weekly – the 2.82 support has given way, next weekly target down is 2.60.
trade pressures are down. volume is bearish.

Daily – the same 2.82 target is on the daily and is now acting as resistance. However the daily has a 2.50 target.
the trade pressures are down. volume is bearish.

GOLD_ Two major legs down since the 2011 highs.  The final target of the second leg is acting as support at 1142.

Weekly – at the 1142 support. trade pressures are up. volume is bullish.

Daily – after the spike down to the 1129 low, gold has been consolidating with some small trades testing for a long entry.
Trade pressures are up. volume is bullish.
The trade is long from the 193 entry price. the next target up is 1235.

SILVER_ always a low volume futures contract, should be careful it is volatile.

Weekly – still consolidating around the 16.25 downside target.
Trade pressures are up. volume is bullish. The weekly long entry is 21.48.

Daily – after the spike low to 14.00 the pressures ahve turned up.
trade pressures are up. volume is bullish.
long from 15.61 with a target of 18.22.

COPPER_  Weekly retesting of the 2.76 target as support.

Weekly – Trade pressures are down. volume is neutral.
2.64 is the next target down.

Daily – Trade pressures are up. volume remains bearish.
the 2.84 target is a consolidation area.

need a trade above 2.90 for a new long entry.

GOLD_ momentum seems to be turning up.

Weekly – the 1142 remains as support.
trade pressures are up. volume is neutral.

Daily – 1160 is the next downside target. 1200 is the next long entry.
trade pressures are up. volume is bullish.
if 1160 doesn’t hold, then 1112 is the likely target.

SILVER_ consolidating around the 15.66 support.

Weekly – the next target down is 10.70.
Trade pressures are up. volume is neutral.

Daily – at a pivot level of both a 15.61 long entry and a 15.52 short entry.
Trade pressures are down. volume is bearish.

COPPER_
Weekly – trade pressures are down. volume is neutral.

Daily – the 2.82 support has failed. next target down is 2.50.
the trade pressures are down. volume is bearish but very light.

GOLD_
Still observing the 1142 support.
Weekly – trade pressures are up. volume is neutral and holiday light.

Daily – Trade pressures are down. volume is neutral.
the trade is down to 1160 from 1209.

a close above 1200 could restart the long trade.

SILVER_ the 16.25 support has failed. the next target down is 10.71.
Weekly – trade pressures are up. volume is neutral.

Daily – trade pressures are down. volume is neutral.
in the long trade from 15.61. the next target up is 18.22.
a close below 15.52 would signal lower.