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: Precious metals are in a corrective mode after the recent rally in the last few weeks. Only Crude Oil prices look Bullish near term as they are on the verge of breaking 1st resistances to move higher. PE

Gold at 1321.38 may have made a near term Top just below 1360, and the current dip could possibly take it back towards 1300.

Silver at 17.70 may get some support at 17.50 from where a bounce may happen.

Copper at 2.9815 came off sharply the last 2-sessions and could test to 2.90 over Thursday and Friday before pausing. This is the 1st correction after the price started rising from about 2.50 in June.

Brent Crude at 55.03 broke above 1st resistance near 54 and may rise in the coming sessions. While above 54, Brent Crude could target 58.00-58.40 in here, and 55.60 is an important, and that needs to break to move higher towards 58. Near term looks Bullish to me.

WTI Crude Oil at 49.20 is on the verge of breaking above major near term resistance, and if it breaks, WTI Crude Oil could target 50.20-52.00 next.

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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