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Daily Metals Report
December 27, 2024
 
   
 
Gold   Silver   Copper (CME)  
 
 
 
 
  Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
 
 
     
 
Gold Intraday: bullish bias above 2621.00.
 
Pivot:
2621.00
 
Our preference:
Long positions above 2621.00 with targets at 2642.00 & 2651.00 in extension.
 
Alternative scenario:
Below 2621.00 look for further downside with 2613.00 & 2608.00 as targets.
 
Comment:
The RSI lacks downward momentum.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Silver Intraday: intraday support around 29.55.
 
Pivot:
29.55
 
Our preference:
Long positions above 29.55 with targets at 29.95 & 30.10 in extension.
 
Alternative scenario:
Below 29.55 look for further downside with 29.40 & 29.25 as targets.
 
Comment:
The RSI lacks downward momentum.
 
Analyst Views Chart
 
Trade
 
 
 
 
 
Copper (CME)‎ (MAR5)‎ intraday: target 4.0765
 
Our pivot point stands at 4.1590.
 
Our preference:
Target 4.0765.
 
Alternative scenario:
Above 4.1590, look for 4.1885 and 4.2055.
 
Comment:
The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Copper (CME) (MAR5) is trading under its 20 period moving average (4.1345) but above its 50 period moving average (4.1189).
 
Analyst Views Chart
 
Trade
 
 
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