Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

$GLD, $SLV, $CU, $USO, $OIL

Commentary: Nothing New.PE

Brent Crude at 67.75, and WTI Crude Oil at 64.71 have come off again. Brent is likely to move down near term towards 66-65, while WTI Crude Oil holds above 64. There could be some test to 64.00-63.75  near term.

Gold at 1330.83 moved up to test at 1350 as expected, and saw rejection. 1320 is an interim support just below current marks. If that holds, price may trade within 1350-1320 in here or else it could re-test to 1315-1310 medium term. I see a bounce from 1320 should it test there.

Copper at 3.1840 is testing 1st support at 3.1750. A bounce from here could see 3.25. The 3.25-3.1750 range may continue this week followed by a break on either side of the range.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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