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 and Silver have been falling and could trade low for some more time. PE

Gold at 1248.60 continues to move South. But as long as support near 1240 holds, some chances of a bounce back is likely. Or, 1200 could be the next target on the Southside.  Gold may bounce back from 1240 and not move to further South near term.

Brent Crude at 63.10 has resistance at 64, just above current marks, and while that holds, a temporary short term fall towards 62-61 is possible near term.

WTI Crude Oil at 57.08 may trade within 56-59 in the coming sessions, while the upward channel on the 3-day candle holds. A break above Key resistance at 59 is needed to turn Bullish for the longer term, that may take more attempts to break above 59.

Copper at 2.9775 has been trading along support near 2.95 for the last few sessions. While support near 2.95 holds CU could move to 3.00-3.05 near term. Near term looks Bullish to me.

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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