COPPER_ HGK16

Weekly – Still in the downtrend, but a weekly long confirmation has been triggered. Trade pressures are up but declining. Volumes have changed from bullish to neutral which suggests some profit-taking or distribution.

Daily – Short. The 2.27 entry price was triggered 3/23. Price has moved thru the first profit target of 2.19. Trade pressures remain down. Volumes remain bearish.

The stops are at 2.20.

The next profit target is 2.11.

[4-4-16: lower stops to 2.17]

[4-5-16: take profit at the 2.11 target]

 

GOLD_ GCM16

Weekly – In the move up from the 1147 confirmation. Trade pressures are up but declining. Volumes remain bullish.

Daily – Flat. In a pullback inside the uptrend which began with a close below the 1153 level.  Trade pressures are down but rising. volumes are mixed neutral to bearish.

If trading this retracement down, then the stops will be the entry price at 1253. The next target down is 1199.

 

SILVER_ SIK16

Weekly – In a sideways price channel after breaking up out of the downtrend. Trade pressures are down. Volumes are mixed bullish to neutral.

Daily – Flat. In a retracement move down. Trade pressures are down but rising. Volumes are mixed bearish to neutral.