Brent crude oil price range trades, while copper, silver prices gradually advance
Brent crude oil price range trades, while copper, silver prices gradually advance amid ongoing US tariff uncertainty.
Brent crude oil price range trades
The Brent crude oil price still oscillates around the $65.00 per barrel level, having recovered from its near 4 1/4 year low at $58.18.
Last week's $65.68-to$65.74 highs represent resistance. If overcome, the 7 April $67.11 high and the September-to-March lows at $68.215-to-$68.455 may be next in line.
Minor support below Monday's $63.635 low sits between the previous Monday's $62.305 low and Friday's $62.395 trough.
Copper price in recovery mode
The copper price is gunning for the 55-day simple moving average (SMA) at $4.7473, having overcome the $4.4698-to-$4.4983 resistance zone. Because of inverse polarity it has now become a support zone. It is made up of the mid-October, November and January highs as well as the late February low.
Further minor potential support can be seen along the 200-day SMA at $4.4074.
Silver price bangs against resistance for third straight day
The spot silver price's recovery off its eight month $28.315 per troy ounce low has taken it to the 55-day SMA at $32.42 which has acted as resistance over the past three days.
Slightly further up lies the 21 March low at $32.65 low which may also act as resistance.
Minor support may be found around the 11 March low at $31.81. Below it meanders the 200-day SMA at $30.94.
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