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: Gold is still ranged. PE

Note: Some Bullishness is seen for metals and Crude Oil near term.

Gold at 1298.31 is ranged for now within 1310-1290, and some more of sideways trade is possible near term.

Gold-WTI ratio at 19.67 saw some rejection near resistance at 20 and while that holds, the ratio could come off to 19.

Copper at 3.2524 is stable here for now. A fall to 3.22-3.20 is possible before another sharp rise happens.

ICE Brent Crude at 76.46 and NYMEX WTI Crude at 66.19 are seeing directional differences now.

Brent Crude has support at 75, which if holds, may take the price to 79-80 in here.

WTI Crude is trading along support turned resistance and could come off to 65-64 if it does not break out now.

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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