Gold, Copper, And Oil On 3/15/19

TL;DR

Gold and silver prices may decline further, while copper prices are heading towards an important level. Crude oil prices could face resistance around $59.50 before experiencing a potential correction.

Transcript

hi traders Dale Pinkert Twitter handle that Forex stop hunter yesterday I just wanted to give you an update from what I talked about yesterday in the gold with yesterday's close and the gold I thought there was a shot for 12 2016 1 8 so far we've stalled at the 50% level again those 12 80 levels gonna be very important if that gives way I think we ... Read More

Key Insights

• 🍳 Gold prices may continue to decline if the level of $1280 is broken.
• 😀 Silver prices are underperforming and could face further trouble.
• 🎚️ Copper prices are approaching a crucial level of support at $2.80.
• 😀 Crude oil prices could face resistance around $59.50 before a potential correction.
• ❓ Industrial commodities are experiencing pressure as economically sensitive commodities take a breather.
• 🙃 Short-term upside in crude oil may continue, but a significant breakout is unlikely.
• 🏅 Gold and silver prices are indicating negative sentiment in the market.

Questions & Answers

Q: What is the current outlook for gold prices?

Gold prices have stalled at the 50% level and could decline further if the level of $1280 is breached. A potential target could be $1240.

Q: How are silver prices performing?

Silver prices are underperforming and may face more trouble in the near future unless they find support. The negative day in gold could further impact silver prices.

Q: What is the crucial level that copper prices are heading towards?

Copper prices are approaching a significant level of support at $2.80. A break below this level could lead to further selling pressure towards $2.85 and $2.80.

Q: What is the potential objective for crude oil prices?

Crude oil prices are approaching a potential objective of $59.50. However, there may be resistance around this level before a potential correction.

Summary & Key Takeaways

• Gold prices may continue to decline if they break below the important level of $1280, potentially reaching $1240.

• Silver prices are also underperforming and could face further trouble unless they stabilize.

• Copper prices are heading towards a crucial level of support at $2.80, which could signal a sell-off towards $2.85 and $2.80.

• Crude oil prices are approaching a significant objective of $59.50, but there may be resistance before a potential correction.