Metals

#copperfutures #goldfutures #silverfutures

COPPER_ HGU19

Weekly – Consolidating after a break below the prior week’s 2.60 lows. Trade pressures are down but rising. Volumes are bearish.

Daily – Long. The 2.57 long entry is triggered Thursday and bought in the Friday pullback. Trade pressures are down but rising. Volumes are Bearish.

The next target up is 2.63.

A close below the 2.53 low would signal lower and so use this 2.53 as the beginning stop.

This is a retracement trade inside the longer move down; so move the stop up to breakeven as soon as practicable.

[8-11-19: Sunday nite session. Raise the stop to the entry price of 2.57. Pressures are down and the S&P is near resistance, so maybe too early.]

 

GOLD_ GCZ19

Weekly – In the aggressive move up from the mid 1200’s . Trade pressures are up. Volumes are bullish.

Daily – Flat. In the second leg up from the 1437 long entry. Trade pressures are up. Volumes are bullish.

At the 1502 target. The next target up is 1567.

A close below 1483 would signal a retracement lower.

 

SILVER_ SIU19

Weekly – In theĀ  move up off the 15 level. Trade pressures are up. Volumes are bullish.

Daily – Flat. After consolidating at the 16.52 level, price moved sharply higher to the 17.25 level. Trade pressures are up. Volumes are neutral.

The next target up is 17.86.

A close below 16.73 would signal a retracement lower.

 

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