OSB Daily Technical Analysis for November 25, 2014

Negative day for Gold on Monday which is consolidating at the $1200 area at the moment. A break above this area required to have any chance of shaking off bearish momentum and sentiment.

 

Silver essentially unchanged with a negligible losses on the day. Pair likely to consolidate and bounce around in this area as it looks for further direction. Resistance above in the $16.80-$17.00 area very resistance essentially capping upside for now.

 

Copper continues it dance around the $3.00 area. Market practically untradeable in the shorter time frames due to high intraday volatility. Longer term bearish bias remains strong.

 

Crude Oil gave back most of Fridays gains with little showing from buyers in the market. $77.00 handle proving too resistive for now. Downside momentum overbears this market.

 

Gap down on the open for Natural Gas which bounced back some however the gap remains unfilled. This is likely to cause some upswing in the market as NG looks to fill the gap. Highly volatile.

 

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