#copperfutures #goldfutures #silverfutures

COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are up. Volumes remain bullish.

Daily – Long. In the move up from the 3.84 long entry on 7/13.  Trade pressures are up. Volumes are bullish.

The next target up is 4.17.  Overbought levels are now 3.95.

A close below 3.80 would signal lower. The expected oversold levels are now 3.75.

[Use the 3.90 as SL.]

[8-1-23: Stopped out in the evening session (Central Time USA)]

 

GOLD_ GCZ23

Weekly – In the December 2022 uptrend. Testing the support levels. Trade pressures are now up. Volumes are now neutral.

Daily – Flat. Now in the December contract. The long signal is now from the 2004 level on 7/26. Trade pressures are now down. Volumes are now neutral.

Pulled back from the breakout to 1984. Look for a new long at support around 1958. The next target up is the nearby 2068. The next overbought levels are 1997.

The next target down is 1966. The expected oversold levels are lower lows at 1942.

 

SILVER_ SIU23

Weekly – In the April 2023 uptrend. Trade pressures are remain up. Volumes are bullish.

Daily – Flat, The move continues after the break out above 22.98 on 7/7, but showing lower highs. Trade pressures are down. Volumes are neutral.

The next target up is 25.47.  Overbought levels are 25.35. In a pullback to support around 23.88.

A close below 23.88 would signal lower. Oversold levels are expected at 23.92.