Gold, Copper and Crude Oil Briefing

Gold, Copper and Crude Oil Briefing

Gold, Copper and Crude Oil Briefing

$GLD, $CU, $USO, $OIL

Commentary: Crude Oil looks stable in here.PE

Note: Crude Oil trades higher as the 12 May deadline for Iran sanctions nears.

Brent Crude at 75.22 to test the prior high at 75.60 and looks Bullish in here. Brent Crude could continue to move up to make fresh highs in the current rally this week.

WTI Crude Oil at 70.18 is up, and could head to 71-72 soon. Near term looks Bullish to me.

Note: 72 is a major resistance which may hold medium term.

Gold at 1317.66 is ranged within 1310-1325, and not able to decide which direction. While the precious Yellow metal price remains above 1300-1310, a rise to 1350 is possible.

Copper at 3.0834 will trade sideways within 3.05-3.15 for the coming sessions.

Have a terrific week.

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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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