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: Nothing new. PE

NYMEX WTI Crude at 68.10, -0.23% has room in the Southside to 65 and if the price falls, it likely drags ICE Brent Crude 72.85, -0.30% lower levels in here.

Note: 70-71 is important support for ICE Brent Crude and is likely to hold medium term.

Gold at 1231.90, +0.06% bounced from 1210, but could face resistance at 1240. If rejection happens at 1240, Gold could continue Bearish near term with the scope to testing 1200 medium term. But, a rise above 1240 in this the current rally would be Bullish the precious Yellow metal longer term.

Copper at 2.7465, -0.34% is ranged within the 2.68-2.80 region and a break on either side is needed confirm direction. A break above 2.80 opens up 2.95-3.00 again.

Have a terrific week.

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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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