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: 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.

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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