COPPER_ HGN18  #copperfutures

Weekly – Three weeks in a tight range. Trade pressures are in the neutral zone. Volumes remain neutral.

Daily – Flat. The long trade was taken out by the volatility. Trade pressures are up. Volumes are bearish.

Still in the long trade from the 3.08 level. The next target up is 3.17.

The hourly is meeting resistance along the downward sloping median line. 3.04 is a support level.

3.01 is the stop level for any long trade.

 

GOLD_ GCM18  #goldfutures

Weekly – Broke below the 25×5 moving average. Trade pressures are down. Volumes have turned from neutral to bearish.

Daily – Flat. Gold is considered a recession trade, primarily because of lowering interest rates. Trade pressures are down. Volumes are neutral.

The long trade was stopped out as gold pressures did not follow thru and broke the uptrend support line. Now sitting on the 1284 support level.

1298 would signal higher.

 

SILVER_ SIN18  #silverfutures

Weekly – In the long slow declining channel. Trade pressures are in the neutral zone. Volumes are neutral again.

Daily – Flat. A long trade was signaled, as was in gold. Trade pressures are in the neutral zone. Volumes are now bearish.

The long trade failed. The lack of weekly pressures prevented any follow thru.

The parameters remain the same, with the long entry at 16.55, The next target up at 17.34 and the stop level at the 16.07 low pivot. Wait for the pressures to confirm.