Metals

COPPER_ HGZ15

Weekly – The weekly downside target of 2.01 is nearby. Trade pressures are down. Volume remains bearish.

Daily – Flat. In the down move. The next target down is 2.0047. Trade pressures are down hard. Volume has been bearish from the downside break on 11-5.

A close above 2.10 would signal higher.

{11-24-15 lower long entry price to 2.08]

 

GOLD_ GCZ15

Weekly – In the down trend since October of 2014. The weekly downside target of 1053 has been in place since September of 2013 (adjusted quarterly for contract changes). Trade pressures are down. The last three weeks of volume has been bearish.

Daily – Flat. Still in the downtrend. Showing consolidation around the 1075 downside target. the next target down is 1040. Trade pressures are down but show some divergence. Volume has changed from bearish, to bullish, to neutral. This might indicate short covering.

A close above 1084 would signal higher.

 

SILVER_ YIZ15

Weekly – Testing the 2014 lows. Trade pressures are down. Volume is bearish.

Daily – Flat. Still in a downtrend . Trade pressures are┬ábut as with gold showing some divergence. Volume is changing from bearish to neutral. The next target down is 13.86.

a close above 14.55 would signal higher.

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.