COPPER_ HGH17  #copperfutures

Weekly – Approaching the Spring of 2015 pivot high. Trade pressures are up and near the highs. Volumes have returned to Bullish.

Daily – Flat. Sitting on the 2.60 short entry trigger. No short entry yet. Trade pressures remain up, but declining. Volumes are mixed bearish to bullish.

The next target down is 2.41.

Stops will be at the 2.75 pivot high.

 

GOLD_ GCG17_  #goldfutures

Weekly – In the downtrend approaching the 1129 weekly target. Trade pressures are down. Volumes remain bearish.

Daily – Flat. The consolidation at the 1170 downside target seems to be giving way to renewed downside pressures. Trade pressures are  down and trending. Volumes are bearish.

The next target down is the weekly 1129 target.

Need a close above 1200 to start a new move up.

 

SILVER_ SIH17  #silverfutures

Weekly – Still in the downtrend started five weeks ago. Trade pressures are down. Volumes are bearish.

Daily – Flat. The 16.50 downside target has acted as support. Trade pressures have risen thru the neutral zone and are now up. Volumes are bullish.

Price has risen to the 25×5 moving average and was stopped there. A small pullback has ensued. A second leg up and thru the long entry price of 17.50 would signal higher. Watch the price action on the hourly.

If that fails the next target down is 14.91.