Gold, Silver and Crude Oil
Trade in Crude Oil, which shed 2% to close at 87.24 bbl, was driven by economic concerns, as well as strength in the USD. The futures traded to their lowest levels, at 85.64, in mid-morning trade, but managed to bounce close to 2 pts off those lows heading into the close.
Nat Gas prices sold off in mid-morning trade, moving back to levels seen in overnight trade. On the session prices fell 1.6% to finish at 3.92 per MMBtu.
It was a choppy session for the Gold price, which gained 0.2% to finish at 1859.50 oz. Despite numerous economic concerns, strength in the USD kept a lid on any potential move to the upside.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.