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COPPER_ HGU24

Weekly – New August 2024 downtrend. Trade pressures are down. Volumes remain bearish.

Daily – Flat. The July move up at 4.18 failed and dropped to a low of 4.03.  Trade pressures have risen into the neutral zone. Volumes are neutral.

The next target down is 4.03. The expected oversold levels have declined to 3.99.

A close above 4.16 would signal higher.  The expected overbought levels have declined to 4.25.

 

GOLD_ GCQ24

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

Daily – Flat. 7/30 in new uptrend from 2450.  Trade pressures are up.  Volumes are bearish.

The next target down is 2436. The expected oversold level has declined to 2368.

The next target up is 2535. The expected overbought level has risen to 2502.

 

SILVER_ SIU24

Weekly – Still in the December 2023 uptrend, but turning down.  Trade pressures are down.  Volumes are bearish.

Daily –Flat. The break below the trendline support at 30.53 takes price to 27.45 and started a recovery rally.  Trade pressures are up.  Volumes are now bearish.

The next target down is 28.36. Oversold levels are 27.09.

A close above 29.83 would signal higher.  Overbought levels are 31.25.