OSB Daily Technical Analysis for September 2nd, 2014

Gold- Low trading volume day on Monday for Gold. More of the same and range bound action without much impetus to head higher or lower.

Silver- Sideways trading within a tight range for Silver. Holding at the support levels for now without much momentum to go higher.

Copper (Comex) – Copper remains bearish putting in a spinning top candle on Monday which suggests that sellers might be losing interest and we might be forming a bottom somewhere in this range. That remains to be confirmed in the next couple of sessions. Bearish to neutral.

Crude Oil – Crude Oil was largely unchanged on Monday and remains beneath the 96-96.50 resistance level for now. A close above this area is needed to get traders sitting on the side lines to commit capital to this trade. On the longer term this market remains bearish is likely to hover within a range.

 

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