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Copper (CME)Copper (CME)

20241017 12:44

Copper (CME) (DEC4) intraday: the downside prevails as long as 4.3450 is resistance

4.3450 is our pivot point.

Our preference: the downside prevails as long as 4.3450 is resistance.

Alternative scenario: the upside breakout of 4.3450, would call for 4.3755 and 4.3940.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Copper (CME) (DEC4) is trading under both its 20 and 50 period moving average (respectively at 4.3392 and 4.3590).

Supports and resistances:

4.3940 **

4.3755 *

4.3450 **

4.3330

4.3205 last

4.2660

4.2480 **

4.2300 *

4.2120 **

SilverSilver

20241017 13:30

Silver Intraday: continuation of the rebound.

Pivot: 31.55

Our preference: long positions above 31.55 with targets at 31.95 & 32.15 in extension.

Alternative scenario: below 31.55 look for further downside with 31.35 & 31.20 as targets.

Comment: the RSI is bullish and calls for further upside.

Supports and resistances:

32.30

32.15

31.95

31.85 Last

31.55

31.35

31.20

Gold (CME)Gold (CME)

20241017 13:32

Gold (CME) Intraday: further advance.

Pivot: 2685.00

Our preference: long positions above 2685.00 with targets at 2714.00 & 2722.00 in extension.

Alternative scenario: below 2685.00 look for further downside with 2675.00 & 2664.00 as targets.

Comment: the RSI calls for a new upleg.

Supports and resistances:

2729.00

2722.00

2714.00

2703.10 Last

2685.00

2675.00

2664.00

Silver (CME)Silver (CME)

20241017 13:33

Silver (CME) Intraday: further advance.

Pivot: 31.74

Our preference: long positions above 31.74 with targets at 32.14 & 32.34 in extension.

Alternative scenario: below 31.74 look for further downside with 31.54 & 31.39 as targets.

Comment: the RSI is bullish and calls for further upside.

Supports and resistances:

32.49

32.34

32.14

32.01 Last

31.74

31.54

31.39

Crude Oil (WTI)Crude Oil (WTI)

20241017 15:37

Crude Oil (WTI) (X4) Intraday: range.

Pivot: 71.30

Our preference: short positions below 71.30 with targets at 69.70 & 69.00 in extension.

Alternative scenario: above 71.30 look for further upside with 72.10 & 72.70 as targets.

Comment: the RSI is mixed and calls for caution.

Supports and resistances:

72.70

72.10

71.30

70.43 Last

69.70

69.00

68.35