Technical Analysis for November 26, 2014

XAU/USD (GOLD) has broken 1205 but still trading sideways around 1180-1205 level for now. Although the next target for the higher level is 1240, a lower leg under 1175 will target 1150 next. Long term bullish trend still intact and no sudden change expected since market will keep trading sideways.

XAG/USD (SILVER) trading around 16.6 level and 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 XAG/USD still advances slowly.

Crude Oil suddenly made a sharp break and from 76.3 and now is trading around 73.8 level. A new lower would be expected and the next target is 73. A reversal to 75.4 will target 76 again for the higher move.

Copper has broken over the 3 level support and trading around at 2.958. A reversal higher to 3 level will bring back Copper in the 3 – 3.08 trading range but for an even lower movement, copper will target 2.9 level next.

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