Gold, Silver, Copper and Crude Oil Briefing

$GLD, $SLV, $CU, $USO, $OIL

Commentary: Nothing new. PE

Gold at 1299.10 looks stable in here, but there is possibility of the precious Yellow metal’s price testing to 1280. A clear break below 1280 would be Bearish Gold medium term opening up a move South to 1260-1250. For now Gold looks ranged within 1280-1310.

NYMEX WTI Crude at 66.48 seeing 1st support at 65.70. While it holds, WTI’s price could bounce to 68-69 in here. A clear break below 65.60 sees the price fall to 64 or lower.

ICE Brent Crude at 74.91 seeing 1st support 74.50 which may hold here, if not Brent Crude could test to 73.50-73.70 and lower.

Gold at 1299.10 looks stable in here, but there is possibility of the precious Yellow metal’s price testing to 1280. A clear break below 1280 would be Bearish Gold medium term opening up a move South to 1260-1250. For now Gold looks ranged within 1280-1310.

Copper at 3.0520 trades lower and looks Bearish to 3.02. Watch the Red metal’s price action near 3.02; if it fails to bounce from 3.02, it could see 3.00-2.95 medium term.

Stay tuned…

  bounce, break, Brent, briefing, Copper, Crude, CU, GLD, Gold, metal, oil, resistance, SLV, support, term, trade, USO, WTI

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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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