Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

Gold, Copper and Crude Oil Briefing

$GLD, $CU, $USO, $OIL

Commentary: Nothing new. PE

Brent Crude seeing resistance at 73.87, as seen on the 3-day candle. If that holds, the precious Yellow metal could test to 72-71.

WTI Crude Oil at 67.67 tested resistance on the daily candle, while that holds the price comes off to 66 or remains ranged within 67-70 for some time to come.

Gold at 1330.80 look like it is capped at 1340/50 with chances of a fall to 1320-1300 in here. A break above 1350 does not look likely near term.

Copper at 3.1375 is trading above 3.1250, the resistance at 3.20 is holding well, while that holds, a fall towards 3.10-3.05 looks likely medium term. There is some room for the Red metal to move up to 3.17-3.20, after that a correction.

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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