#copperfutures #goldfutures #silverfutures    [Contracts rollover]

COPPER_ HGH24

Weekly – In the new December 2023 uptrend. Trade pressures remain up but turning down. Volumes remain bullish.

Daily – Long, from the 3.81 resumption of the uptrend on 12/8.  Trade pressures are up. Volumes remain bullish.

The next target up is 3.96.  The expected overbought levels are 3.93.

A close below 3.73 would signal lower. Expected oversold levels remain at 3.71.

[Use 3.73 as the SL]

[12-14-23: Raise SL to BE, 3.81.]

[12-19-23: Take profits at 3.92, the overbought level.]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend, with the decisive break above the 2048 the resistance levels now in a complete retracement. Trade pressures are down into the neutral zone. Volumes are now neutral.

Daily – Flat.  After the retracement to the 200 day MA, the FED rally ran gold up to touch the new entry price of 2060. Trade pressures are up. Volumes are neutral.

Reached the 1992 target down.  Support is at 1987, just below the expected oversold levels of 1988.

Did not take new long entry at 2045 because of the gap up. looking for a break out of the downward channel.  The expected overbought levels are now 2090.

 

SILVER_ SIH24

Weekly – Now in the new December uptrend.  Trade pressures are down.  Volumes are neutral.

Daily – Flat. gapped up with gold and out of the downward channel.  Trade pressures are up.  Volumes are bullish.

Tested the target down at 22.98.  Support levels are at 22.99.  Oversold levels are below at 21.62.

The 12/13 close above 23.78 signaled higher, but waiting for a back-test in the low 23’s.  Overbought levels are 25.09.