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COPPER_ HGH24

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

Daily – Flat. In the move up from 3.81, but now pulling back from the 3.96 target.  Trade pressures are down.  Volumes are bearish.

The next target up is 4.10.  The expected overbought levels are 3.96.

A close below 3.83 and the confluent  200 day MA would signal lower. However, the expected oversold levels are 3.82.

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend, with the decisive break above the 2048 the resistance levels which have been back tested and now moving higher once again. Trade pressures remain in the neutral zone. Volumes remain neutral.

Daily – Flat. In the move up from 2060 on 12/22.  Now at the upper channel boundary and retracing. Trade pressures are down into the neutral zone. Volumes remain neutral.

Reached the upside target of 2097. The next target up is 2113. The expected overbought level is 2101.

A close below 2064 would signal lower. The lower channel bound and the 200 day MA meet at 2014 in mid January. The expected oversold level is 2026.

Watch the US dollar for a rally, which could take gold down.

 

SILVER_ SIH24

Weekly – Now in the new December uptrend.  Trade pressures have risen into the neutral zone.  Volumes remain neutral.

Daily – Flat. Attempted a rally but failed at the end of the month with a sharp selloff.  Trade pressures are down.  Volumes are bearish.

The next target down is 23.26. Oversold levels remain at 21.62.

A close above 24.91 would signal higher  Overbought levels are 25.01.