COPPER_ HGZ16  #copperfutures

Weekly – A high volume breakout of the downtrend line. Trade pressures are up. Volumes are very bullish.

Daily – Flat. The trade was taken out at the first profit target. Trade pressures are up and extended. Volumes have changed from bullish to neutral as sellers meet the buyers in the 2.70’s.

All profit targets have been met and exceeded.

A new short entry has been triggered at 2.60 with a 2.40 profit target.

The volatility is too high for a safe trade. Wait.

 

GOLD_ GCZ16  #goldfutures

Weekly – The downtrend remains in place. Trade pressures have risen into the neutral zone. Volumes have changed to bearish.

Daily – Flat. The previous long trade was stopped out at the 1284 entry price. Trade pressures are down. Volumes are bearish. A new short entry was triggered the day after the election results at 1278.  The first profit target was immediately met at 1228. The next targets down is 1176.

A close above 1260 could signal higher.

 

SILVER_ SIZ16  #silverfutures

Weekly – Still above the uptrend support line. Trade pressures are in the neutral zone. Volumes have changed from bullish to neutral.

Daily -Flat. The long entry is still in place, but will be voided by a close below 17.11. Trade pressures have dropped into the neutral zone. Volumes have turned bullish.

The next target down is 16.40.

Need a  close back above the 18.38 level to signal higher.