Metals

Palladium – Preferably trade the September expiration contract. Use 953.5~970.5 as a support zone and with long bets targeting 1056.5.

Platinum This has one of the stronger trends in the PMG and has support between 1029.3~1042.5, if you are looking at the July contract which still has about 42 days to expiration although technically trading the Oct’24 expiration for a longer term hold is likely better. If you are interested in the longer term buy/hold, the support levels for that expiration is between 1035.8~1049.8 and entry can be anywhere between that support band and 1059.6 targeting 1121 area for profit taking. For the July contract, if that stated support band holds, look to run it all the way up to at least 1120.

Copper July expiration is OK to trade to find “trend trade” opportunities with Copper. It is finding resistance above 5 for the immediate timeframe and each time it jumps above, there are sellers so there could be some profit taking here especially if PMI out of say China comes in weaker. There is support for the July contract at 4.58~4.68. If we hold that price band, we can still see prices over 5.15 into the contract roll.

Gold [June] has immediate support at 2337.6 so it will try and hold that level and make a move higher into the 2409 area.

Silver support for the July contract now is at 29.045~29.275 like Copper’s resistance at psychological levels, there is resistance with Silver at the 30-price handle. If this support level holds, expect 30.425 area to be an easy profit target price point.

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