OSB Daily Technical Analysis for September 16, 2014

Gold A pause to the gold sell off on Monday after breaking below the $1230 level and bouncing back to close at $1235. Bearish with some bouncing around in the next couple of sessions likely.

Silver remained mostly unchanged on Monday. Support at the $18.60 level appears to be holding for now. Bearish.

Copper (Comex) Action in the Dec 14 Copper contract suggests that the sell-off might be taking a pause for now with strong support at the $306 level. A close below this level and in the $305 range would likely trigger a further down move towards $300.

Crude oil sell-off on Monday found support at the $90.50 level and turned back higher to close just beneath resistance at $93.00. Market looks likely to continue bouncing around at these levels. Close above resistance higher up at the 20 DMA at $93.63 is needed for upswing to continue.

Natural Gas closed above the 20 DMA on Monday at 3.93 and continues to remain within its recent range. Sideways action most likely to continue.

 

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