#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – In the December 2023 uptrend. Trade pressures are down into the neutral zone. Volumes are now neutral.

Daily – Short. In the move down from the 3.83 level, and at 3.80 support.  Trade pressures are down.  Volumes are bearish.

The next target down is 3.71.  The expected oversold levels are 3.82.

A close above 3.86 and the confluent  200 day MA would signal higher. The expected overbought levels are 3.94.

Use 3.86 as the SL.

[1-9-24: Lower SL to BE ,3.83.]

[1-12-24: Lower SL to 3.79. Set profit stop at 3.71]

 

GOLD_ GCG24

Weekly – In the new December 2023 uptrend.  Trade pressures remain in the neutral zone.  Volumes remain neutral.

Daily – Flat. In the move up from 2060 on 12/22.  The retracement down has taken price below the long entry.  Trade pressures are down into the neutral zone. Volumes remain neutral.

Reached the upside target of 2097. The next target up is 2065. The expected overbought level is 2100.

The lower channel bound and the 200 day MA meet at 2014 in mid January.  The expected oversold level is 2036.  Look for a new long entry between 2014 and 2036.

Watch the US dollar for a rally, which could take gold down below the 200 day.

[1-9-24: Looking for Long around 2015.]

 

SILVER_ SIH24

Weekly – In the new December uptrend.  Trade pressures are down.  Volumes are now bearish.

Daily – Flat. The selloff continues.  Trade pressures are down.  Volumes are bearish.

At the 23.26 target. The nest target down is 22.25.  Oversold levels remain at 21.62.

A close above 23.81 would signal higher  Overbought levels are 24.21.