Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

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

Commentary: Still seeing weakness across the board in commodities driving down Crude Oil prices. PE

ICE Brent Crude at 77.15 seeing Brent Crude falling from current marks to 76 near term on supply/demand concerns.

NYMEX WTI at 72.82 could test 68 near to medium term before trying to bounce. My view is Bearish now.

Gold at 1255.20 can now test at 1270-1280, on remain stable within 1260-1240 range for a few more sessions, then attempt to scale 1270/80.

Copper at 2.7980 is Bearish coming from weakness in the Chinese stock index and RMB Yaun. While the trade war loom, see the Red metal Copper weak in here. A test to 2.75 or lower would not surprise.

Have a terrific weekend

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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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