OSB Daily Technical Analysis for September 25, 2014

Gold closed lower on Wednesday after grinding it out in the $1216-$1226 area. Consolidation day with US$ bullishness weighing against Gold. Bearish outlook remains.

Silver Subdued action in Silver on Wednesday finding support at $17.50. Market possibly to grind away in a sideways fashion until we get a clean close below $17.50. Bearish bias.

Copper (Comex) Copper retest of recent lows and support in the $302 area before rallying back up close to $306. Somewhat bullish sign which needs further confirmation. A move above $306 extends action back up to $308.00.

Crude Oil Crude rally to close above the 20 DMA and a test of the $93.00 area. Bounce possible to extend towards top of the recent range at $94.20. Neutral with high volatility likely.

Natural gas rally to close just below the 20 DMA. Resistance above at $4.00. Range bound action. Neutral outlook.

 

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