Crude is back below the $60 level as it failed to break and hold $62.50 earlier in the week. Eric Zuccarelli, trader on the NYMEX, tells TheStreet’s Jill Malandrino he is not surprised to see crude move lower as fundamentals and technicals look weak. Gold reacted off of non-farm payrolls data and the initial move from the euro and U.S. dollar, but now that an interest rate hike could be pushed even further out, Zuccarelli says the metal will remain range bound around $1,200 as has been the case for quite some time. Copper has quietly out-shined the metals, and while technicals have weakened a bit, Zuccarelli is a buyer on dips as fundamentals remain tight.
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