Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing

Gold, Silver, Copper and Crude Oil Briefing


Commentary: Nothing new. PE

Brent Crude at 69.30 tested 70.05 Thursday before coming off to close lower. While resistance at 70 holds, the price could trade sideways now, and come off towards 68 before trying a break above 70, if happens could indicate a move to 71.00-71.50 soon.

WTI Crude Oil at 63.65 is trading above Key support at 63, while that holds, the price could move up to 65 next week.

Gold at 1326 rose above the 1320 possibly initiating a fresh move to 1340 or higher near term. Near term the precious Yellow metal looks Bullish to me.

Silver at 17.08 is holding below resistance at 17.30, and is likely to consolidate within 17.30-16.70 for sometime to come.

Note: 17.30 is an major long term resistance point.

Copper at 3.2375 is trading in narrow movements within 3.20-3.30. An attempt to 3.30 is possible medium term, then expect dip to 3.20-3.15 marks.

Have a terrific weekend

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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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