OSB Daily Technical Analysis for October 23, 2014

Gold A negative day for gold which is finding resistance at $1250 too strong to climb over for now. The close above $1240 suggests some consolidation and building up of strength to try and get above this key level.

Silver sold off testing the $17.00 mark on Wednesday. A close below extends to recent lows in the $16.80 area. Consolidation and more range bound action likely.

Copper (Comex) continues to consolidate in the key $300 region. Bearish bias remains.

Crude Oil sold off and is currently testing support at the $80 area. This $80 mark is an important price from a fundamental perspective and Crude is likely to continue consolidation here prior to finding further direction to either side. Bearish bias remains and momentum tilts to the downside.

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