Gold, Silver, Copper and Crude Oil Briefing
$GLD, $SLV, $CU, $USO, $OIL
Commentary: Nothing New. PE
Gold at 1287.70 has dipped slightly. A test of 1280 is possible in the coming sessions before again rising back towards 1290-1295. Gold is likely to remain trapped in the 1280-1300 region for at least the next 4-5 sessions.
Silver at 17.11 has immediate resistance near 17.25 and while that holds, price could come off slightly towards 17.00-16.80 in the near term.
Brent Crude 56.67, and WTI Crude Oil at 51.05 have both bounced from supports as expected and are trading higher Wednesday. While above 56.65, Brent Crude has scope of rising towards 57.45 and WTI Crude Oil could rise to 52 before seeing another down leg. Near term looks Bullish to me.
Copper at 3.0545 rose above 3.05 maybe due to a rise in the Chinese stocks. While the price sustains above 3.05, we could see a test if 3.10 or even higher near term.