OSB Daily Technical Analysis for September 30, 2014

Gold consolidation at the $1215 area where it is forming a base. Likely to trade within a tight range $1215-$1225 while it looks for further direction. Somewhat downside biased at the moment. Bearish.

Sliver down day on Monday. Support at $17.40 and further below at $17.10. Downside biased.

Copper (Comex) Copper continues to hover just above key $300 level with a test of the area on Monday only to bounce back and close at $304.55 level. Consolidative action and base formation in progress at this level. Little upside pressure with lower prints most likely.

Crude Oil moved higher with a close above $94.00. Resistance above at $95.00. A close above extends to resistance at $95.80 and further above to $96.00. Neutral with some bullishness. Needs further confirmation.

 

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