Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

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.

Stay tuned…

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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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