Gold, Silver, Copper and Crude Oil Briefing
$USO, $OIL, $GLD, $SLV, $CU
Commentary:Commodities may pause in here. Copper, Gold and Silver are likely to come off in the medium term, and Crude prices are also set dip. PE
ICE Brent Crude at 78.08 dipped from 78.80 seen Tuesday. Near term trade within 77-79 is possible, and the Southside limited to 76.
NYMEX WTI Crude at 73.56 looks Bearish for the medium term with a falling to 72 soon. A sharp fall in WTI Crude will drag Brent Crude lower.
Gold at 1251.70, -0.29% dipped from 1260 and could re-test 1240 before resuming its rise to 1280 medium term.
Silver at 15.98, -0.73% wants to break below 16 after trading with 17.40-16.00 since 18 January. Watch price action near support at 15.80, if breaks could signal Bearishness ahead.
Copper at 2.7490, -3.19% looks weak, there is some support 2.70, if it holds could drive price to 2.80/90. Or, a clear break below 2.70 open the way to 2.60-2.50 near to medium term.