OSB Daily Technical Analysis for September 17, 2014

Gold Push higher for Gold with a test of the $1240 resistance level. Gold likely to consolidate at these levels and needs to push above current resistance if it is going to edge higher. Bearish with downward bias intact.

Silver Upswing in Silver with a test of the $18.80 resistance level only to close below. Corrective upswing is within the norm following recent declines. Resistance at $18.80 and then $19.00 need to be cleared if to convince that this move has legs. Bearish.

Copper (Comex) Breakout day for Copper with aggressive buyers stepping in to push Copper above $320.00 intraday. Range bound action with high volatility likely.

Crude Oil upswing with a close above the 20 DMA and a test of the 50 DMA. Resistance at the $95.00 area proved significant. A close above extends action towards $96.00. Support at $93.00.

Natural Gas Edge higher for Natural Gas on Tuesday moving closer to the 50 DMA. Resistance at the $4.00 level is likely to be tested in the next several sessions. A close above this and the 200 DMA is bullish for natural gas. Neutral.

 

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

---