COPPER_ HGH18  #copperfutures

Weekly – The 25×5 moving average provided the necessary support. Price turned higher at this 2.97 level. Trade pressures are rising into the neutral zone. Volumes are bullish.

Daily – Long. In the move up from the 3.03 long entry. Trade pressures are up. Volumes are bullish.

Thru the 3.12 and 3.17 targets. The next target up is the prior high at 3.28, then the 3.30 level.

A close below 3.16 would signal a retracement down.

The stop now is 3.17. Take profits at the 3.28 pivot or the current stop whichever comes first.

[12-26-117: Trade up to 3.30 the day after Christmas, stopped out at the 3.28 prior high. Very nice profit.]

 

GOLD_ GCG18  #goldfutures

Weekly – Tested support successfully at the mid 1230’s. Trade pressures are up into the neutral zone. Volumes have changed from bearish to neutral.

Daily – Flat. In a retracement move up from the 1243 level, but still in the downward sloping channel. Trade pressures are rising into the neutral zone. Volumes are bullish but declining.

At  the upper bound if the down channel. The next retracement target up is 1295. A close above 1273 (was 1283, corrected to 1273) would signal a new longer term move up.

If the break out occurs then the next target up is first the 1295, then the 1332.

All stops will begin at the 1238 low pivot.

[12-26-17: gold opened at 1279, above the 1273 entry. Long at the opening 1279. Set the stop at the 1273 level.]

[12-27-17: Raise the stop to 1279.]

[12-28-17: Sell. Reached the 1295 target and the trading last day of the year.]

 

SILVER_ SIH18  #silverfutures

Weekly – In a two week move up from the retest of the 15.32 lows. Trade pressures are down. Volumes have changed from bearish to neutral.

Daily – Flat. The long entry of 16.39 has been triggered, but waiting for some weekly confirmation or a move up in the daily trade pressures. Trade pressures are rising into the neutral zone. Volumes are low but bullish.

Price is rising to meet the 25×5 moving average resistance. If penetrated, the the next target up is 16.78.

Best to wait.