OSB Daily Technical Analysis for September 9, 2014

Gold Sellers dominated trading in Gold on Monday with the December 14 contract closing at 1254.30. The next support is at the 1250 level which is somewhat significant. Recent weakness suggests we might be heading beneath that to the 1235-1240 area. Bearish.

Silver support at the 19.00 level gave way on Monday with the precious metal closing beneath at 18.96. Silver is heading lower in the medium term and an additional close below the 18.80 support level might be a trigger for additional sellers to step in.

Copper (Comex) saw some buyers stepping in to push prices above the 320 level intraday only to retreat and close lower than the previous days session. This suggests that Copper may have at least found some support at the bottom of the range at around 312.00 and buyers are prepared to step in at these levels.

Crude Oil continued downwards on Monday with an intraday print below the 92.00 level. The bears are dominating this market for now and lower prices are likely. Bearish.

Natural Gas found support at the 3.76 level on Monday and move higher from there. This area is supportive and NG is likely to consolidate here before finding new direction. Bearish bias remains intact.

 

Risk Disclaimer

Forex and CFDs are leverage products, involved a high level of risk and can result in the loss of all your invested capital. Forex and CFDs may not be suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience.

All information on this website, including any opinion, charts, prices, news, data, Buy/Sell signals, research and analysis is our point of view and is provided as general market commentary and does not constitute any investment advice.

OneStopBrokers.com will not accept any responsibility or liability for losses incurred by customers, visitors or traders as a result of using the data available on OneStopBrokers.com. Read more

---