COPPER_ HGU16

Weekly – The weekly has confirmed the long trade. Trade pressures are up but extended. Volumes have changed from bearish to bullish.

Daily – Flat. In the move up from the 2.075 long entry trigger on 6-15. Our trade was stopped out, but the move continues. Trade pressures are up and trending. Volumes remain bullish.

The next target up is 2.25.

A close below 2.17 would signal lower.

 

GOLD_ GCQ16

Weekly – Retesting the spike highs at 1360. Trade pressures are up. Volumes have changed from bullish to neutral.

Daily – Flat. Trade pressures are up but diverging. In distribution with neutral volume all week but closed higher into the 4th of July US holiday.

In a short move from the 1335 trigger on 6-27. Look for a second move down and thru 1335 for a new short entry.

The next target down is 1296.

Stops at 1362.

 

SILVER_ SIU16

Weekly – The week after the BREXIT vote to “leave” sent Silver to new contract highs. Trade pressure are up. Volumes remain bullish.

Daily – Flat. Zipped thru the 18.50 target and the 20.22 target. Trade pressures are fully extended. Volumes ran bullish all week but closed on a bearish note on Friday.

The earlier “feels lower” comment was completely wrong. But now the action feels overextended and “feels lower” again.