#copperfutures #goldfutures #silverfutures

COPPER_ HGZ23

Weekly – In the May 2023 downtrend but testing the resistance line. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. Breaks out above the UML to test the 3.80.  Trade pressures are up but turning down. Volumes are now neutral.

Resistance is here at 3.80. looking for an entry lower around the 3.60 level. The expected overbought levels are 3.85. 200 day MA is at 3.86.

A close below 3.73 would signal lower. Expected oversold levels remain at 3.57.

 

GOLD_ GCZ23

Weekly – In the August 2023 downtrend, still testing the resistance levels. Trade pressures are still down. Volumes are now bullish.

Daily – Flat. In the new move up from the break above the UML and 1984 on 11/21. Trade pressures are up. Volumes remain bullish.

The next target up is 2036. The expected overbought levels is 2018.

A new short entry would be signaled with a close below 1980. The expected oversold levels are now 1951.

 

SILVER_ SIZ23

Weekly – Remains in the September 2023 downtrend. Trade pressures are now up. Volumes remain bullish.

Daily – Flat. In the move up after the break above the 200 day MA from 23.87 on 11/21. Trade pressures are up. Volumes remain bullish.

The next target up is 25.94. Overbought levels are expected at 24.74.

A close below 23.22 would signal lower.  Oversold levels are 21.49.