OSB Daily Technical Analysis for October 15, 2014

Gold rally stalled just shy of the $1240 mark on Tuesday and turned back to sell off finding support at $1231. Gold is likely to consolidate in this area and grind it out while looking for further direction. Further support below at $1225. Bearish bias remains.

Silver consolidation day and a give back of some of the previous day’s gains. Support below at $17.00. Further consolidation likely.

Copper (Comex) rallied on Tuesday breaking above the 20 DMA and managing to get above $310 mark intraday. Copper is likely to consolidate at a higher level and remain within a tight range for now. Bearish.

Crude Oil sold off on and dipped below $81.00. Crude is looking weak and is likely to break below the $80 mark soon. A close below this level suggests lower prints in the $77.50. Bearish sell only market.

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