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: Nothing New, USD continues to weaken. PE

Brent Crude at 69.79, and WTI Crude Oil at 66.04 have risen sharply. While 1st support near 68 holds on Brent Crude, it may target 71-72 near term. WTI Crude Oil is respecting support near 64, while that holds, it could move up to 67 to mark news highs within the this rally.

Gold at 1347.85 moved up as expected, and could be headed to 1350-1360, while trading above 1340 support. Watch price action near 1350-1360 for an indication on direction.

Copper at 3.21 moved up to test 1st resistance at 3.225. While that holds, a dip to 3.1750 is possible, or a rise above 3.225 could then lead to 3.25-3.26 near term.

Have a terrific weekend.

The following two tabs change content below.

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.

You must be logged in to post comments :  
CONNECT WITH