COPPER_ HGU16 #COPPER

Weekly – Have traded thru the long confirmation but working off an over bot situation. Trade pressures are down into the neutral zone. Volumes remain bullish.

Daily – Short. The second move down thru the 2.20 has triggered the short trade. Trade pressures are down. Volumes are bearish.

The next target down is 2.13.

Stops are now at the entry price of 2.20.

[Update 8-10-16: covered short @2.20.]

 

GOLD_ GCZ16

Weekly – Consolidating around the 1354 upside weekly target. Trade pressures are up but declining. Volumes are still bullish.

Daily – Long . The 1359 entry price was triggered mid week. Trade pressures are up but declining. Volumes are bearish at the closed on Friday as the jobs report showed improvement.

Stops at 1318.

 

SILVER _ SIU16

Weekly – Very extended in the upside move. Trade pressure are up and extended. Volumes remain bullish.

Daily – Flat. The weekly suggests some retracement ahead. Trade pressures are down into neutral. Volumes have changed to bullish.