OSB Daily Technical Analysis for September 29, 2014

Gold intraday bounce back on Friday with a test of the $1230 level. Market appears to forming a bottom at the $1215 level. Some range bound action likely at these levels.

Silver Positive day for Silver on Friday finding strong support at the $17.50 level. Market remains biased to the downside with little strength to push price much higher. Bounce towards $17.75-$18.00 likely but probably to be short lived.

Copper (Comex) Copper forming base just above $300 handle with an inside day on Friday. Range bound action and some volatility likely as market fights it out at this key level. Some bounce to the upside is very much likely.

Crude Oil attempt to test the 50 DMA during Friday’s session. Market starting to look biased for the upside. Resistance at $93.56 and 200 DMA at $94.22. Neutral with upside bias.

Natural Gas looking for direction hovering just below 50 DMA. Consolidation with resistance above $4.00. Break above 200 DMA at $4.11 opens way for higher prints. Neutral.

 

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