OSB Daily Technical Analysis for October 22, 2014

Gold managed to break above the key $1250 resistance area only to close just below for the day. A close above this level is bullish for gold. Support below at $1240-45.

Silver pushed higher on the day but remains within a tight trading range. This suggest that both buyers and sellers and undecided about where next for the metal. Bearish and range bound.

Copper (Comex) continues to fight it out and managed to break back above the $300 mark on Tuesday. Copper seems to be building a supportive base at $295-98 area and is likely to continue to fight it out at this area.

Crude Oil climbed higher on Tuesday breaking above $83. Consolidation and range bound action likely to continue for Crude as the $80 mark appears to be a floor for now. Bearish.

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