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: Overall mostly all commodities look Bearish near term and could move lower in the next few sessions.PE

Gold at 1259.74 may fall in the near term, as resistance near 1275-1280 looks to be holding well now. A fall towards 1240 or lower to 1220 could be seen in the coming sessions. Near term looks Bearish.

Silver at 17.23 is trading lower and could come off towards 17.00 in here. A bounce back from 17 expected after.

Copper at 2.57 has come off from short term channel resistance near 2.62/65 and while that holds, Copper could come down towards 2.45/40 medium term.

Brent Crude at 51.61 is trading below immediate resistance near 52.65/70, and while that holds, a dip towards 50 is possible near term, before bouncing towards 53. WTI Crude Oil at 49.30 can re-test levels near 48.50, near term looks Bearish.

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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