#copperfutures #goldfutures #silverfutures

COPPER_ HGH24

Weekly – Remains in the December 2023 uptrend. Trade pressures are up but declining. Volumes remain bearish.

Daily – Flat. now in a downward channel.  Trade pressures are down.  Volumes remain bearish.

The next target down is 3.64.  The expected oversold levels are 3.68.

A close above 3.73 would signal higher. The expected overbought levels are 3.90.

 

GOLD_ GCJ24

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

Daily – Flat. Out of the downward channel and backtesting the breakout.  Trade pressures are down.  Volumes remain bearish.

the next target up is 2079. The expected overbought level is 2082.

A failure at below 2029 would signal lower.  The expected oversold level is 2014.

US dollar remains in an uptrend but facing resistance.

[2-13-24: Inflation surprises to the upside. 10yr yields up, Dollar up, Gold down.]

 

SILVER_ SIH24

Weekly – In the December uptrend, but down near support.  Trade pressures are down but rising toward the neutral zone.  Volumes remain bearish.

Daily – Flat. has traded above the Dec trend line and is now back testing.  Trade pressures are down.  Volumes are now bearish.

The next target up is the 23.71 long entry.  Overbought levels are 26.34.

A close below the LML at 22.32 would resume the downtrend.  Oversold levels are 21.62.