OSB Daily Technical Analysis for September 23, 2014

Gold December 14 Gold found support at the $1210 area which suggests some support at this area. Some consolidation and a possible bounce likely but ultimately Gold is in a bear market and heading towards $1200.

Silver Aggressive Silver sell off broke through $17.50 only to incite buyers to step in and push price back up. Yesterday’s action suggests likely bottom at least for now with the possibility of a bounce higher towards $18.00.

Copper (Comex) Copper broke down towards $300 and closed at daily lows. This suggests likely test with this key level. A close below extends move towards $295.00. Bearish.

Crude Oil closed below $91.00 and found support just below $90.50 area. A close below this area extends move to support at $90.00 and below. Bearish.

Natural Gas closed essentially unchanged on Monday finding support at the just above $3.85 area. Much stronger support is offered at the $3.80 handle. Natural Gas likely to hover in a range for now. A close below $3.80 extends down leg to $3.60 area.

 

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