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COPPER_ HGZ24

Weekly – In the August 2024 downtrend. Trade pressures rise into the neutral zone. Volumes are neutral.

Daily – Flat. In the second leg up from 8/29 at 4.20. Trade pressures are down but rising.  Volumes are bearish.

The next target up is 4.36. The expected overbought levels have risen to 4.32.

Support expected at 4.16, the lower median line parallel. The expected oversold levels stay at 4.06.

 

GOLD_ GCZ24

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

Daily – Short. The Upper Median Line parallel, after 5 attempts, rejected the price advance; now forming a small bull flag at the highs. Trade pressures are down.  Volumes turn bearish.

The second close below 2543 signals lower. The next target down is 2499. The expected oversold level has risen to 2511.

A close above 2541 would signal higher. Use this 2541 as a SL. The expected overbought level has risen to 2579.

[9-3-24: set SL at 2538 on 8/30 entry price. Take profits at 2490.]

[9-4-24: Lower SL to 2531. take profit at 2497.]

 

SILVER_ SIZ24

Weekly – Still in the December 2023 uptrend.  Trade pressures are now up.  Volumes are now bullish.

Daily –Short. 8/30 breaks back down into the down channel and triggers the 29.37 short entry. Trade pressures are up.  Volumes are bullish.

The next target down is 27.91.  Oversold levels are 27.86.

Expected support level is 27.26. Look for a long entry there. A close above 29.43 would signal higher.  Overbought levels are 30.658.

[9-3-24: Set new SL at 28.94. Take profits at 27.50.]

[9-4-24: Take profits at 27.91.]