OSB Daily Technical Analysis for September 19, 2014

Gold December 14 Gold fell below $1220 intraday and managed to close above for the day. Action suggests that the downward move might be preparing to take a pause at least for now. A further bounce towards $1230 is likely. Bearish with $1200 very much a possibility.

Silver Buyers and sellers undecided about further direction in Silver with a possibility to bounce higher in the short term. Resistance at $18.80. Ultimately bearish and upswings are likely to be short lived.

Copper (Comex) Copper continued its downward trajectory finding support at $309 level. Range bound within $308-$318 area most likely for now.

Crude Oil Nov 14 Crude Oil reversal of gains from earlier in the week and a close below the 20 DMA suggest that Crude is likely moving towards 90.50 handle in the short term.

Natural Gas Resistance at $4.10 level proved too strong for Natural Gas and saw prices reversing to close below the 20 DMA. Support below at the bottom of the range at the $3.85-90 handle.

 

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