Copper - Tariff affect ?

Gold has been range bound, bit on the weekly chart it does look like a bottoming formation.. my buy stop is @1220.80. If it closes above that next week, it means momentum has shifted. At least in the short term.
 
I'm now skeptical of the Copper rally.....looks like a lot of short-covering to me.
China's going to slow-down....that's the big problem.
Demand will weaken as a result....and the US housing market is no longer booming either.
This has all of the attributes of a "C" wave rally.
Copper likely to bounce between 2.5 and 3.0 for a while.
 
I added a pyramid buy stop @2.8715.

My silver buy stop hit today. It would seem I'm loading up on the metals. Gold hasn't gotten the message.
 
treeman said:
I added a pyramid buy stop @2.8715.

My silver buy stop hit today. It would seem I'm loading up on the metals. Gold hasn't gotten the message.
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This is not to say that there aren't some concerns in the metals. It's just short term they look solid. Momentum is still down over the time frames I like to trade. I could see copper down to 2.25 in six months, so I'm keeping a short/medium leash on it. Said another way - I'm starting to waffle as I'm entering too early on this, and may exit my metals positions soon. If I am to go long copper, above 3.00 is more certain.
 
In fact, I closed out all my metals positions this morning. I’m going to wait until the trend is clearly up. No need to call the bottom on these.
 
Oitside of oil (which is in a def bull market), I’m taking a prove it to me approach. Not taking a position is a position. I made some good coin on the short end of copper and silver so far this year. Got taken by palladium a few times. Until they create a more definitive trend, I’m sitting it out (right now the trend is short for the metals, and long for the dollar)
 
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