Here’s my quick take on Gold, Copper, and Oil…
GOLD
- a drop and hold below 1072.30 on GOLD could, finally, see price retest the 1000 level, or lower, since there is an absence of volume support down to this level, according to the Volume Profile shown along the far right side of the chart
- 1150 = major resistance
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| GOLD Weekly |
COPPER
- a drop and hold below the current price on COPPER (2.274 and now sitting at the downtrend channel “mean”) could send price plunging
- 2.385 = major resistance
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| COPPER Weekly |
OIL
- OIL is now sitting at 2004 prices
- it could drop as low as 33.20 (major support), or lower…no end in sight, since there is little volume support down to this level, according to the Volume Profile shown along the far right side of the chart
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| OIL Weekly |
