#copperfutures #goldfutures #silverfutures

COPPER_ HGZ23

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

Daily – Flat. Pulling back to test the 3.51 downside target.  Trade pressures are down. Volumes are bearish.

Need a close above the 3.66 level to enter a new long trade. The expected overbought levels are 3.70.

A close below  3.54 would signal lower. Expected oversold levels are now 3.50 to 3.45.

 

GOLD_ GCZ23

Weekly – In the new August 2023 downtrend, breaking the support levels. Trade pressures rise into the neutral zone. Volumes are now bullish.

Daily – Long. The 1853 entry was established 10-9. Trade pressures are up. Volumes remain bullish.

Got the close above 1853 to enter a new long trade. The expected overbought levels are 1899. Price is well above the OB levels; so, is exposed to selling.

A close below 1870 would signal lower. The expected oversold levels are 1818.

SL at 1896.

[10-18-23: Raise SL to 1925]

[10-19-23: Raise SL to 1952.]

[10-20-23: Raise SL to 1983]

[10-24-23: Stopped out at 1983.]

 

SILVER_ SIZ23

Weekly – In the September 2023 downtrend. Trade pressures are down. Volumes are neutral.

Daily – Long. Last Friday close above 21.63 signaled higher. Long 10/9 at 21.94.  Trade pressures up. Volumes remain  bullish.

At the 22.79 target up.  A back-test of trend line resistance is at 23.19. The next target up is 23.99. Overbought levels are 24.74.

A close below 22.19 signals lower.  Oversold levels are expected at 21.59.

Set the SL at the prior 22.42 upside target.

[10-18-23: Raise SL to 22.79 prior target.]

[10-19-23: SL triggered at 22.79.]