OSB Daily Technical Analysis for September 22, 2014

Gold Continuation of down move and drift close to the $1200 support level which now is very much to be tested. A close below this level suggests further downside for Gold. No signs of strength for the upside and bounce backs likely to be short lived.

Silver sell-off on Friday with a clear push below $18.00 and making a 52 week low and reaching levels not seen since early 2010. Fridays action suggests downward momentum increasing with lower prices an almost certainty. Increasingly bearish.

Copper (Comex) Copper edged lower from Thursdays close. Candle suggests that recent sell-off might be in pause however weakness remains and bearish case is still strong. Support at $306.00 and resistance above at $314.00.

Crude Oil Close at $91.65 for Crude Oil on Friday continuing downward trajectory. Support at $91.50 and resistance above at $92.50. Bearish case intact with price action suggesting further declines imminent.

Natural Gas Sell-off in Natural Gas finding support at the $3.90 level. Further support below at 3.85. Resistance above at $4.00.

 

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