#copperfutures #goldfutures #silverfutures

COPPER_ HGK23

Weekly – In the November 2022 uptrend. Trade pressures are now down. Volumes are now bearish.

Daily – Flat. In the move down from the 4.10 on Mar 2nd. Trade pressures are up into the neutral zone. Volumes remain bearish.

Still below the 4.12 25×5 MA resistance. The next target down is 4.02. Oversold is expected at 3.91. Take profits at the 3.94 level.

A close above 4.09 would signal higher.  Overbought levels will be near 4.15. Set the 4.07 as the SL.

 

GOLD_ GCJ23

Weekly – In the December 2022 uptrend. Trade pressures are down after breaking support. Volumes are now bullish.

Daily – Long, The 3/8 break down to 1813 allowed for a new long entry. Trade pressures are up. Volumes are bullish..

Near the 1869 overbought levels. Take profits here.
[3/12/23: 1869 profit stop hit.]

A close below 1875 would signal lower. Set the SL here.

Oversold target is 1809.

[3-13-23: Near new 1899 overbought levels. A close below 1906 would trigger a new short trade. Use the 1919 high as the SL, if entered. Oversold target is 1812.]

[3-14-23: Short GCJ23 @ 1906. SL at1919. TP @ 1868]

[3-15-23: After an overnight low of 1889, stopped out with a loss at 1919.]

 

SILVER_ SIK23

Weekly – In the new February 2023 downtrend. Trade pressures are below the uptrend support level. Volumes remain bearish.

Daily – Long. The trend resistance at 20.33 was breeched. Trade pressures are down but rising toward the neutral zone.. Volumes are now neutral.

The break below the support line from the September lows has moved down to test the oversold levels at the mid 19’s. The expected price target is now 21.64 which will be the new longer term entry.

This is a counter-trend trade, so keep stops close at 19.92. Move to BE asap. [3/12/23 move stop to the 20.33 BE.]

[3-13-23 Raise stops to 21.56.]

[3-14-23: Stopped out at 21.56.]