Gold, Silver, Copper and Crude Oil Briefing
$GLD, $SLV, $CU, $USO, $OIL
Commentary: Nothing new. PE
Gold at 1294 moved up in line with my expectation, while it remains above 1275-80 there is chance of re-testing 1300-07 near term. Barring that, a fall towards 1260 is possible.
Note: As .DXY at 92.92 is headed to 92.50, Gold might remain within 1275-1310 regions in the next few sessions.
Silver at 16.98, and 1st resistances are at 17.00-17.50 which if holds could push the price back to 16.50 .
Copper at 2.97 is highly overbought near term time. Chances of a dip to 2.85 is possible before it tries to move up to 3.12. I remain Bullish Copper while it is trading above 2.85. Only a close below 2.85 could 2.66 come in to view.
Brent Crude at 51.75 is hanging around the pivot of its near term trading range of 49.70-52.80. Only a close above 52.80 could open up 55.
WTI Crude Oil at 47.50 is trading within the range of 46.50-49. Will stay Bullish on Brent Crude, and WTI Crude Oil while they are trading above 49.70 and 46.50 respectively.
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