OSB Daily Technical Analysis for October 3, 2014

Gold continued to consolidate above the $1200 level yesterday with a push above the $1220 area. Bearish bias remains in Gold which is likely to grind it out at these levels prior to finding new direction. That is most likely to the downside.

Silver found support at $16.90 level and closed lower on the day just above $17.00. Consolidation and base formation likely at this level. Bearish.

Copper (Comex) Copper finally dipped below $300 on Thursday but managed to get back up and close exactly at this key point. Lower prints are imminent with the bears in full control of this market.

Crude oil sold off finding support at $88.00 which managed to get the bulls back in action to bid price higher for a positive close on the day. Resistance above at $92.00. Neutral.

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