OSB Daily Technical Analysis for September 15, 2014

Gold December 14 Gold dipped below $1230 on Friday only to turn back and close just above. Gold is bearish and all signs suggest lower prices and increased volatility as we head lower. Bearish.

Silver was essentially unchanged on Friday from the previous days close after dipping below the $18.50 level. Silver is at yearly lows and is likely heading lower. Bearish.

Copper (Comex) Volatility for Copper on Friday closing above $310 to conclude the week on a positive note. Weakness remains and more volatility and range bound action is to be expected.

Crude Oil October WTI managed to push higher on Friday only to turn back and close at $92.27 just below the 20 DMA. Volatility and range bound action within the $92.50-$95.50 is likely in the short term. A close above or below these levels would suggest further direction for Crude Oil.

Natural Gas found support just below the $3.80 level. Range bound in the $3.80-$4.50 range for now. NG is weak but looks likely to bounce around for now without much direction.

 

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