COPPER_ HGZ18
Weekly – Rallying off the 2.74 consolidation area. Trade pressures are down but turning up and near the neutral zone. Volumes are bullish. Copper seems to be the global recovery indicator; watch the currencies.
Daily – Long. In the retracement move up from the 2.74 long entry. Trade pressures are up. Volumes are bullish.
The next target up is 2.88, then 3.03.
Set the stop at 2.71, the 25×5 moving average.
[10-2-18: entered at 2.76. Now a 5 cent rally this am. Raise stops to the 2.76 break-even.]
[10-5-18: ran to 2.86 and pulled back to 2.76. Stopped out at breakeven.]
GOLD_ GCZ18
Weekly – Remains in the downtrend. Trade pressure are dwon and trending. Volumes are bearish.
Daily – Flat. In the down trend but the retracement long entry was triggered at 1197. Trade pressures are down once again. Volumes are bearish to bullish.
Waiting for a new long entry. The next target up is 1244.
The low pivot is 1167, and would be the initial stop.
SILVER_ SIZ18
Weekly – Remains in the downtrend. Trade pressures are down and trending. Volumes are mixed, neutral to bullish.
Daily – Long. The retracement trade was triggered wit the move thru the 25×5 and the 14.45 new long entry level. Trade pressures are up into the neutral zone. Volumes are bullish.
The next target up is 15.24.
The stop is the 25×5 moving average at 14.40.