Technical Analysis : Commodities – Nov 13
Technical Analysis for November 13, 2014
XAU/USD (GOLD)
XAU/USD has been trading around 1130 – 1180 level. No major changes are expected in short term and long term downtrend still intact in XAU/USD chart. A higher leg above 1185 will make 1200 as the next target and a lower leg under 1120 will bring the price to a newer low level.
XAG/USD (SILVER)
XAG/USD has been trading around 15.40 – 15.85 level. No major changes are expected in short term and long term downtrend still intact in XAG/USD chart. A higher leg above 16 will make 16.2 as the next target and a lower leg under 15.2 will bring the price to a newer low level.
Crude Oil
The downtrend in Crude Oil seems to be intact and a new lower movement is expected but currently the pair will move sideways around 76.4 to 79.8 level. Market posed a danger to break 76 level currently and that will bring a new lower level in Crude Oil. A break higher than 79 will bring positive sentiment to crude oil once again and the next target will be 80.
Copper
Copper has been trading around 3.000 level to 3.060 level. A break under 2.990 will send copper to a new lower leg and a break for the upward movement over 3.080 will target 3.100 next.
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