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 65.36, and WTI Crude Oil at 61.62 are down. Brent Crude broke below 1st support, while WTI Crude Oil is testing just here. A bounce if not seen now could lead to further fall in the Crude Oil prices to 64 and 60 respectively.

Gold at 1313.64 came off, and may now be headed to 1300 in the next 2 sessions. 1280-1300 is an important near term support zone, which is likely to hold and produce a bounce back medium term. Gold is Bearish in here.

Copper at 3.1180 broke South indicating more of upcoming Bearishness for the Red metal. The fall is likely to continue and price could move to major long term support near 3.05. That if holds could produce a bounce to higher marks in the longer run.

Stay tuned…

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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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