OSB Daily Technical Analysis for November 14, 2014

Gold seen testing support at the $1150 area on Thursday. Bears in full control of this market and likely to push this market lower. A break of support and close below $1145 suggests a test of recent lows in the $1130 region. On the upside resistance at $1170-80. Bearish.

Silver Tug of war for the Silver market on Thursday with very little being settled between bulls and bears. Silver found support at $15.50. A break below sees price into the $15.25 area. Silver is well supported below and in the $15.00 area. A close below opens up the next down leg which likely extends to the $12.00 in the longer term. Bearish.

Copper (Comex)  sold off strongly breaking and closing below the $300 mark. The Copper market does not appear to be ready to go lower and is likely to bounce back above this level which now acts as resistance. Failure to do so suggests a test of lows in the $295.00. Bearish to neutral with high volatility.

Crude Oil finally broke down and closed below the $75.00 handle testing support at the $74.00 area as well. Pair looks ready to go into the next down leg and is likely to continue heading lower. Next stop with significant support at the $72.50 area. Bearish.

Risk Disclaimer
Forex and CFDs are leverage products, involved a high level of risk and can result in the loss of all your invested capital. Forex and CFDs may not be suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience.

All information on this website, including any opinion, charts, prices, news, data, Buy/Sell signals, research and analysis is our point of view and is provided as general market commentary and does not constitute any investment advice.

OneStopBrokers.com will not accept any responsibility or liability for losses incurred by customers, visitors or traders as a result of using the data available on OneStopBrokers.com. Read more

---