Gold, Silver, Copper and Crude Oil Briefing
$GLD, $SLV, $CU, $USO, $OIL
Commentary: Nothing new. PE
Gold at 1292.04 looks Bearish while below 1300. A test of 1270 looks possible in here.
ICE Brent Crude at 75.50 sees support 75, then at 74. If they hold, may not see a move below 74 near term and the price may bounce back to 77-78.
NYMEX WTI Crude at 65.06 broke 1st support at 66, while the price trades lower, a test to 63.0-62.50 is seen medium term. WTI Crude looks more Bearish than Brent Crude now and in case WTI Crude continues to fall, it will drag Brent Crude lower.
Copper at 3.1274 is testing 1st resistance on the daily candles. If it holds, see the Red metal’s price fall to 3.05. Or, we will see a sharp break North to 3.15-3.20 medium term. A rejection from that resistance looks more like a happening to me.
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