Technical Analysis: Commodities– Nov 21
Technical Analysis for November 21, 2014
XAU/USD (GOLD) has been moving around 1180 – 1200 level and made no new attempts at all. A break over 1205 will target 1240 next and a lower leg under 1175 will target 1150 next. A break will be soon due to the volatility in the market.
XAG/USD (SILVER) has been trading around 16.09 – 16.4 level and will be stable in this trading range. A break higher than 16.6 level will target 17 next and a lower leg under 15.8 level will target 15.5 next.
Crude Oil broke over 76 line and will target 77.7 level next. A reversal again under 75.8 level is very likely due to the volatility in the price action and a lower break under that level will bring back Crude Oil to a price stability around 74.5 level.
Copper has been trading around 3 – 3.08 level and attempts to move breaks higher. A break under 3 level will target 2.975 next and a break higher over 3.06 will target 3.1 next. A break is very likely due to the volatility in the market.
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