Crude Is Close to a Key Technical Level, Gold Remains in a Range

The stable macro political moves are what really moved markets this week across most asset classes, says independent metals trader Eric Zuccarelli. Barring any major global news, gold should remain range bound. Copper will be relatively quiet as China is gearing up for the New Year and Zuccarelli says it will pick up as the second quarter kicks off and may finish off the second half pretty strong. Peter Amandio of Chicago Energies explains crude held the $48 level well, and while nothing has changed fundamentally, if it breaks and holds $54, technically it could be more constructive for the longs. From there $60 would be the next test.