#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are down. Volumes are now bearish.

Daily – Short. In the move down from the 3.83 level.  Trade pressures are down.  Volumes remain bearish.

The next target down is 3.70.  The expected oversold levels are 3.71.

A close above 3.83 and the confluent  200 day MA would signal higher. The expected overbought levels are 3.91.

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

[1-15-24: Stopped out at 3.79.]

 

GOLD_ GCG24

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

Daily – Flat. The retracement down to 2015 initiated a rally.  Trade pressures are up sharply into the bullish. Volumes turned bullish.

Missed this 2017 long trade. The next target up is 2084. The expected overbought level is 2084.

a close below 2034 would signal lower.  The expected oversold level is 2010.

Watch the US dollar for a rally, which could take gold down below the 200 day (2015).

 

SILVER_ SIH24

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

Daily – Flat. in a new retracement up within the down move..  Trade pressures are up.  Volumes are now bullish.

At the 23.46 test of resistance at the October trend line. The nest target down is 22.26.  Oversold levels remain at 21.62.

A close above 23.79 would signal higher  Overbought levels are 24.63.