COPPER_ HGK17  #copperfutures

Weekly – Sitting on a short confirmation of a daily move down, but not there yet. Trade pressures are down. Volumes remain bearish.

Daily – Flat. The 2.64 long entry trigger was met but waiting for confirmations. Trade pressures have declined into the neutral zone. Volumes are mixed Neutral to bearish.

The next target up is 2.79.

A shorter cycle short entry is also at 2.63 which creates a pivot at these 2.63-2.64 levels. Generally means no clear direction, so we wait for clarity.

The low pivot of 2.55 is a stop for any long trade.

 

GOLD_ GCJ17  #goldfutures

Weekly – A cup and handle seems to be forming.  Trade pressures are down but turning up. Volumes have turned neutral from bullish.

Daily – Flat. In the move up from 1227. Trade pressures are up. Volumes are bullish.

The next target up is 1279. A break out above 1262 would signal a weekly confirmation of the daily move up.

Stops at the 1194 low pivot.

 

SILVER_ SIK17  #silverfutures

Weekly – Two weeks into a second leg up. Trade pressures are up into the neutral zone. Volumes have changed from bearish to neutral.

Daily – Flat. The new long entry at 17.48 has been triggered. Trade pressures are up. Volumes are bullish.

Look for a pullback closer to the 17.48 long entry level.

The next target up is 18.55.

Stops at the 16.85 low pivot.