Gold, Silver, Copper and Crude Oil Briefing
$GLD, $SLV, $CU, $USO, $OIL
Commentary: Safe-havens still not quite out of focus. PE
Brent Crude at 70.81 moved up to test 1st resistance near 71 as expected.
WTI Crude Oil at 65.38 has some room on the Northside and looks Bullish to 67 before seeing a short dip.
Notes: Brent Crude could remain stable, while resistance at 71 holds, and that the WTI Crude Oil has strong 3-Day trend support which if holds could drive the price to 68, as seen on the weekly. Brent Crude does not look that strong, but as both prices move together, WTI Crude Oil could bring on a rise in Brent Crude too.
Gold at 1340.40 moved up, and could re-test 1350-1360 soon. Failure to break below 1320 indicates enough Northside momentum to help the precious Yellow metal’s price to move to 1360-1380.
Copper at 3.1260 moved up sharply breaking above 1st resistance 3.10. Higher resistance near 3.20 is the next target for the Red metal in here. Near to medium term looks Bullish while trading above 3.10 to me.
Latest posts by HEFFX Australia (see all)
- Thailand Baht: USD/THB (THB) Declines Ahead of Central Bank Decision - September 23, 2020
- Bitcoin: BTC/USD (BTC=X) Bear Flag? - September 23, 2020
- British Pound: GBP/USD (GBP=X) Support At 1.2650 - September 23, 2020