OSB Daily Technical Analysis for October 2, 2014

Gold Wide swing for Gold on Wednesday with an attempt to get above the $1220 resistance level. Support below holding just above $1200 while Gold consolidates and grinds it out while looking for further direction. Bearish.

Silver bounce back and close above $17.00 after finding support at $16.80. Resistance above at $17.45 and further above at $17.65. Bearish bias intact with upswing likely to be short lived.

Copper (Comex) Copper dipped below the key $300 level briefly only to bounce back and close at $302.60. A close below the $300 level is imminent and Copper is likely to bounce around in this area for now.

Crude Oil Crude continued to sell off on Wednesday finding support in the $90.30 area. Crude is bearish with dollar strength weighing against higher prices with a likely retest of recent lows at $89.50. Resistance above at $92.50. Bearish.

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