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 1329 moved lower in line with my short term Bearish view due to overbought condition and renewed strength in .DXY. The trading range for Gold is now 1327-1363, and a close below 1327 could open up 1303.

Silver at 17.75 moved lower too, and is ranged within 17.40-18.01.

Copper at 3.03 came down in line with my expectation and now ranges within 3.00-3.16 and a daily close below 3.00 could open up 2.90 next.

Brent Crude at 53.80 is hanging around the support of its near term range of 53.30-55.60. A close below 53.30 opens up 51, or it might move to 55ish.

WTI Crude Oil at 48.06 is trading within its narrow range of 47.22-50-48.70. Only a clear above 48.70, will 50.20 can come into view.

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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