COPPER_ HGN18  #copperfutures

Weekly – In consolidation after meeting the 3.30 target level. Trade pressures are in the neutral zone. Volumes are neutral.

Daily – Flat. In the move down from the 3.10 short entry. Trade pressures are rising into the neutral zone. Volumes are still bearish.

Traded down to the 3.02 target level on Wednesday.

The next target down is 2.94.

A close above the 3.14 prior upside target level would signal a new move up.

[6-5-18: Long on the trade thru the 3.14 level. the close at 3.20 allows the stop to be moved up to the entry level at 3.14]

[6-6-18: raise stops to the new short entry level at 3.22.]

[6-7-18: New highs at 3.31. Is also the old weekly target level. Raise the stop to the 3.26 daily target level.]

 

GOLD_ GCQ18  #goldfutures

Weekly – Third week down and under the 25×5 moving average. Trade pressures are down and extended. Volumes are bearish.

Daily – Flat. In the move down from the 1316 short entry level. Trade pressures are down into the neutral zone. Volumes are mixed bullish to bearish.

A retracement up has stalled at the 1299 new long entry pivot.

The next target down is 1290.

A close above the 25×5 at 1310 would signal a new move up.

 

SILVER_ SIN18  #silverfutures

Weekly – Still moving sideways. Trade pressures are in the neutral zone. Volumes remain neutral.

Daily – Still in the downward sloping channel. Trade pressures are now up. Volumes are bullish.

A retracement move up has been signaled at 16.56. The next target up is 17.34.

Each recent move up has failed. There is resistance at the upper boundary of the downward channel

As usual, the volatility of the daily swings is a wider range than the distance between the entry level and the stops.

No trade.