Gold, Silver, Copper and Crude Oil Briefing
$GLD, $SLV, $CU, $USO, $OIL
Commentary: OPEC to raise production by 1-M BPD, President Trump wanted lower Crude Oil prices he will get them. PE
Gold at 1271.60 may try to move to 1280 in here there is room for the move.
ICE Brent Crude at 74.12 sees resistance at 76, while that holds, Brent Crude could be pushed to 73 or lower now. Only a clear break above 76 could we see high marks in the longer term.
NYMEX WTI Crude at 68.34 is up from 64, while that holds 72-73 is possible. But, for now, while trading below 70, the price could dip to 67 and lower.
Copper at 3.0335 is seen trading sideways above 3.0. A clear break below 3, leads to 2.95-2.90, or a bounce from 3 may take to 3.12-3.15 medium term.
Have a terrific week.
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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.