#copperfutures #goldfutures #silverfutures

COPPER_ HGU23

Weekly – In the May 2023 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. The move down from 3.81 was stopped out at the cross above 3.75 on 8/22..  Trade pressures are down into the neutral zone. Volumes are bullish.

At the entry for the net move up at 3.74, but waiting for a pullback.  A pull back to 3.67 and then close above 3.74 would signal higher. The expected overbought levels remain 3.83.

a breakdown below 3.67 would signal lower. Oversold levels are now 3.62. The next target down is 3.61.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures are down. Volumes are bearish.

Daily – Flat. The 1981 short signal on 8/2 was stopped out at the move above the 1927 level on 8/22. Trade pressures are up. But volumes are now bearish.

The next target down is 1903. The expected oversold levels are at higher lows at 1901.

Need a pullback to 1927 to enter a new long trade. The expected overbought levels are 1965.

 

SILVER_ SIU23

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

Daily – Flat. In the move up from the close above the 22.83 signal. Trade pressures are up. Volumes are bullish.

At 24.20 resistance. The next target up is 25.41.  Overbought levels are 26.35.

A close below 23.67 would signal lower. Oversold levels are expected at 20.63.