Brent crude oil is set for its third consecutive day of gains, driven by ongoing supply disruptions. The price is targeting the February highs and the 200-day simple moving average (SMA), which range between $77.01 and $77.15.
Minor support is seen just below the February 14 high of $75.57, near the 55-day SMA at $75.29.
Silver Price Continues to Rise
Silver is attempting to revisit last week’s high of $33.39 per troy ounce. A breakout above this level could push prices toward October’s peak range of $34.54 to $34.86.
Support lies below the February 7 high of $32.65, with additional support along the uptrend line from January to February at $32.15 and Monday’s low of $31.92. As long as these levels hold, the chart remains bullish.
Copper Price Decline Slows
Copper’s rapid drop from its mid-February high of $4.8368 has slowed, reaching a low of $4.5430 on Tuesday. This is close to the February 11 low of $4.5408. If the price breaks below this, the critical support zone between $4.4983 and $4.3450 may be tested, which includes highs from October, November, and January.
Minor resistance is at Friday’s low of $4.6368.
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