Gold, Silver, Copper and Crude Oil Briefing
$GLD, $SLV, $CU, $USO, $OIL
Gold at 1294.26 has moved up, as it has strong support at 1285, see a possible rally to 1310 in here.
ICE Brent Crude at 79.55, and WTI Crude at 71.66 can test 78 and 71 respectively near term. Thereafter expect increased US and OPEC supply to drive prices due South.
The Brent-WTI Spread at 7.89 has moved up, it has a strong resistance at 8.00, which push it down again, and so Crude Oil prices will fall.
Copper at 3.073 is ranged within 3.05-15 now. The long term outlook is unclear.
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