#copperfutures #goldfutures #silverfutures    [Contracts rollover]

COPPER_ HGH24

Weekly – Broken out of the May 2023 downtrend, now in the new December 2023 uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Long, from the 3.86 break above the 200 day MA resistance on 12/1. Breaks above the 200 day MA.  Trade pressures are up. Volumes are now bullish.

Missed the break out. Will wait for an entry lower around the 3.80 level. The expected overbought levels are 3.88.

A close below 3.82 would signal lower. Expected oversold levels remain at 3.70.

[12-5-23: Now 3.78. Breaks back below the 200 day MA. Support at 3.70.]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend, with a decisive break above the 2048 the resistance levels. Trade pressures are just up out of the neutral zone. Volumes are now bullish.

Daily – Flat.  In the new move up from the break above the UML and 2037 on 11/28. Trade pressures are up. Volumes remain bullish.

The next target up is 2101. The expected overbought levels is 2054.

A new short entry would be signaled with a close below 2041. The expected oversold levels are now 1991.

[ 12-5-23: Now 2034. Ripped higher to the 2152 upside target and then gives it all back. 2076 was the short entry; missed. Now looking for an opportunity to go long around 2000.

 

SILVER_ SIH24

Weekly – Now in the new December uptrend. Trade pressures remain up. Volumes remain bullish.

Daily – Flat. In the move up after the break above the 200 day MA from 23.87 on 11/24. Trade pressures are up. Volumes remain bullish.

The next target up is 26.29. Overbought levels are below at 25.09.

A close below 24.90 would signal lower.  Oversold levels are 24.81.

[12-5-23: Silver down with the other metals. Short entry was 25.16 after the spike up. Now support at the back-test of the 200 day.]