Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
After reaching a peak of $71.25 per barrel, the global oil benchmark Brent crude has declined over the past two weeks and is currently trading at $66.7 per barrel. Since 2016, Brent has reached several of our bull side targets including $69 per barrel, however, it has yet to reach out latest target around $74 per barrel. We remain optimistic that the target would eventually be reached.
While the bigger trend remains bullish, we suspect that the benchmark is likely to go for a further correction. The increasing oil production in the United States and speculation of cheating within the OPEC is weighing on price and prompting a correction.
Our calculations suggest that the Brent, which is declining far sharper than its North American benchmark WTI might reach as low as $62 per barrel.
