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

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.

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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