COPPER_ been looking for a bottom since the first of the year.

Weekly – the 2.32 downside target has not been met and the shorter weekly cycle has gone long at 2.60. Trade pressures are below zero but have turned up. Volume has been bullish for four weeks. 3.005 is the next weekly target up.

Daily – In the move up from the late January trigger of 2.50, had a volume breakout on Feb 23rd but that move was stopped by the 2.67 upside target then pulled back. Friday’s volume indicated another break to the upside. the next target up is 2.84.

a break down below 2.54 would signal failure of this move.

GOLD_ You would expect gold to be moving up dramatically in a period of competitive devaluation of the currencies. It is not. So, something else is of concern. Possibly deflation. Where is Peter Schiff? Certainly all of the commodities have been a long term price decline which is reflective of the slowing global economy.

Weekly – Still in the trade down from 1285, the 1142 price target held once again; even in the face of declining trade pressures and bearish volume. A breakdown would activate the 1045 downside target.

Daily – still in the move down following the Nov’14 trade up to the 1304 target. This short trade was triggered at 1278, traded down steadily thru the measured move and now is testing the 1142 lows. the next target down is 1104. Trade pressures are down but turning up. Volume is bullish these last two weeks.

a close above 1184 would signal a new move up.

SILVER_

Weekly – Trade pressures are up. Volume has turned bullish. the next target down remains 10.70.

Daily – Following the spike low on the first of December, silver entered the long trade at 15.61 moving up to the first target of 18.22. As with gold, price retraced to that 15.61 long entry. And now a shorter cycle trade has triggered a new long trade from 16.33. The next target up is 18.05. Trade pressures are up. Volume has been bullish for two days.

Stops are 15.27.