GOLD 1984.5 USD/Ounce
So the Federal Minimum wage is set at 1256.66 USD per month. During the time period between 24 July 2017 and 1 October 2018 the Median price, being the value separating the higher half from the lower half for the following commodities were as follow as indicated by a thick black horizontal line on each respective chart:
2.95 USD/lb for Copper
60 USD/Barrel for WTI Crude Oil
1268 USD/Ounce for Gold
During this time period the following ratio 21:1 existed between the Copper price to WTI Crude price which was 21:1
And the WTI Crude price to Gold price which was 21:1. There is probably somehow related to the fact that there are 250 - 252 working days in a year 21 days x 12 months = 252 but more research needs to be done in this matter.
On the Copper chart one can notice since the 1 June 2021 date as indicated by green vertical line, the price of Copper has experienced consolidation phase until now as seen on the respective price chart and the RSI Indicator.
On the WTI Crude oil chart one would notice that the price of WTI Crude seems to have peaked since the 21 January 2022 date as indicated by green vertical line.
Today the price ratio between Copper and WTI Crude seem to be in lockstep at 21:1 with a slight deviation of +-0.50
Considering the fact that on the MACD Indicator the price of the above mentioned commodities are converging in a positive direction and that there is the probability that the price of Copper, WTI Crude and Gold will be as follow for the week ahead.
4.50 USD/lb for Copper
94.5 USD/Barrel for WTI Crude Oil
1984.50 USD/Ounce for Gold
Good luck with your trading!
2.95 USD/lb for Copper
60 USD/Barrel for WTI Crude Oil
1268 USD/Ounce for Gold
During this time period the following ratio 21:1 existed between the Copper price to WTI Crude price which was 21:1
And the WTI Crude price to Gold price which was 21:1. There is probably somehow related to the fact that there are 250 - 252 working days in a year 21 days x 12 months = 252 but more research needs to be done in this matter.
On the Copper chart one can notice since the 1 June 2021 date as indicated by green vertical line, the price of Copper has experienced consolidation phase until now as seen on the respective price chart and the RSI Indicator.
On the WTI Crude oil chart one would notice that the price of WTI Crude seems to have peaked since the 21 January 2022 date as indicated by green vertical line.
Today the price ratio between Copper and WTI Crude seem to be in lockstep at 21:1 with a slight deviation of +-0.50
Considering the fact that on the MACD Indicator the price of the above mentioned commodities are converging in a positive direction and that there is the probability that the price of Copper, WTI Crude and Gold will be as follow for the week ahead.
4.50 USD/lb for Copper
94.5 USD/Barrel for WTI Crude Oil
1984.50 USD/Ounce for Gold
Good luck with your trading!
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