Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

$USO, $OIL, $GLD, $SLV, $CU

Commentary: Still seeing weakness across the board in commodities now. PE

ICE Brent Crude at 77.69 could trade sideways within 77-80 now. While it trades above 77 it could test 80 before coming off again.

NYMEX WTI Crude at 73.84 sees resistance, and could come off to 70-68 medium term.

Gold at 1256.9 moved up from support at 1240, while that holds, further Southside could be negated now, and a possible move to 1270-1280 should be considered. Near term the precious Yellow metal looks Bullish to 1280.

Copper at 2.8685 broke below 2.90 and and may test to 2.75. There is room on the Southside now and the Copper may continue to fall near term on US-China trade negotiations worries.

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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