OSB Daily Technical Analysis for November 19, 2014

Gold rallied breaking through the $1200 barrier where strong resistance pushed price back down. Resistance at this level significant with Gold likely to retest area. A close above extends to $1215. Failure to do so sees $1275-$1285 area.

 

Market hovering in the $16.00 area without much momentum leaning to either direction. A break above $16.50 extends to $17.00. General market trend remains strongly bearish.

Copper continues to find support at the $3.00. Tuesdays sell off failed to push price much below this area. This market remains in a non directional in the short term until it breaks below the $2.90.

Crude attempt to rally faltered at the $76.50 resistance level, turning down to close near daily lows. Weakness remains prevalent with support in the $74.00 holding Crude together for now. A close below extends to $70.00.

Correction for NG which found support at the $4.25 area. Market looking to go higher with a close above $4.50 extending to recent highs. Volatility increase is on the rise and likely to remain so.

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