OSB Daily Technical Analysis for November 26, 2014

 

Gold having difficulty to hold above $1200 mark and close below suggests the market might be ready to start heading lower again. Support below at $1180-85 needs to be broken through for the down leg to have any real chance of taking hold.

 

Silver found momentum on Tuesday and pushed higher managing to make break from recent consolidation area. Push to the upside likely to extend to $16.85 area. Possible correction and push back in the medium term as bears step back in the market. Support below at $16.35

 

 

 

Crude Oil sold off hard breaking through supportive levels in the $74.15 area. Crude flirting with recent lows which are likely to be tested during this down leg. Market is lopsided to the negative. Sell only.

Very volatile session for Natural Gas yet again as it moved to the upside in effort to close Mondays gap. NG likely to bounce around in the general vicinity as it looks for further direction. Overall bullish bias remains with price hovering above the 200 DMA for now.

 

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