Gold, Copper and Crude Oil Briefing

Gold, Copper and Crude Oil Briefing

Gold, Copper and Crude Oil Briefing

$GLD, $CU, $USO, $OIL

Commentary: Nothing new. PE

Brent Crude at 74.42 is trading above 74 now, while resistance  76.0-76.5 holds, there could be a pause. A clear break above 76.50 open a test at 78, or baring that some consolidation followed by a dip next week.

WTI Crude Oil at 68.41 major near term support at 67, if it holds could drive the price to to 69.0-69.5. For now 69.50-67.0 could be the trading range for several more sessions.

Gold at 1325.20 could test to 1310 in here. Support 1310 is likely to keep the price stable medium term. Watch the precious Yellow metal’s price action at 1310. A break could open up 1290-1280 longer term.

Copper at 3.13 is stable within 3.18-3.12. While the price of the Red metal could remain so, the bias is on the Southside to 3.10 or lower.

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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