Gold (GC): Cha-Ching! Gold trade up hitting the $1,361.10 target we have been calling for the last couple of weeks! From here, this market continues to remain bullish, targeting $1,412.00. Dips between $1,360.00 and $1,350.00 should be bought, targeting $1,412.00. However, do not risk a close below $1,348.00 as this will void the pattern, projecting the market back under $1,320.00 where support and another buying opportunity will kick back in.
Silver (SI): After trading down into our buy zone again on Tuesday silver began rolling back over to the bull-camp on Wednesday. From here this market continues to remain bullish targeting $21.540. Should the market close above $21.540, look for an extension of the move up to $21.875 initially. Continue to buy dips in this market, between $21.000 and $20.800, however, do not risk a close below $20.770 as this will void the pattern, projecting the market back under $20.360.
Copper (HG): Our comments from Tuesday, “Copper hit the $2.9500 target we wrote about on Monday as this market traded down to $2.9420. Continue to look for this market to trade lower as it is targeting its weekly support number of $2.8800.” This remains in play as this market is currently projected down under $2.8800. We are just going to sit on our hands with this one waiting to see if the market may bottom between $2.8800 and $2.8430. Should the market trade d