Technical Analysis for November 24, 2014

XAU/USD (GOLD) has broken 1205 line and will start to target 1240 next. A lower leg under 1175 will target 1150 next. No trend has been formed so far for the long term but short term bullish.

 

XAG/USD (SILVER) tried to break 16.6 level but retraced to 16.4. The next target will be 17 and a break lower to 15.8 will target 15.5 next. Uptrend still intact in XAG/USD and no sudden change expected.

 

Crude Oil broke over 76 line and will target 77.7 level next once again. A break of this level will target 79 next and 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 to the upside is very likely to the recent movement and volatility.

 

 

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