Gold, Silver, Copper and Crude Oil Briefing

$GLD, $SLV, $CU, $USO, $OIL

Commentary: Nothing New. PE

Neither Gold at 1260, or Silver at 16.28 has moved in the last session with almost all the commodities, irrespective of the category, have taken a pause after sharp expansion of volatility the last few days.

Note: In case the support at 1245 breaks for Gold, there will be a further fall to 1230 and 1210 next. Silver, as long as it trades below 16.50, the chances of further decline to 15.90 and then 15.660-30 look strong in here.

Copper at 2.907 continues to consolidate at 2.85-2.92, but as I discussed Monday, it may soon resume the larger uptrend for 3.00-12, 1st support stand at 2.78.

The movement in Brent Crude at 52.17, and WTI Crude Oil at 49.24 is almost Nil the last 24 hrs. View remains unchanged. My Bullish stance remains unchanged as long as Brent Crude is trading above 48.70, and WTI Crude Oil above 45.50 on a weekly closing basis.

Stay tuned…

  Brent, Copper, Crude, CU, GLD, Gold, oil, resistance, silver, SLV, support, USO, WTI

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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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