Technical Analysis for November 27, 2014

XAU/USD (GOLD) slowly climbing and trading 1197 level now. Over all, XAU/USD still trapped in the last trading range around 1180-1205 level. 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 16.5 level and keeps trying to bounce lower. Next lower target will be 16.3 and if it breaks lower it will target 16 next. A reversal to 16.6 will bring price stability around 16.4-16.7 again.

Crude Oil keep targeting lower and the next target for now is 73 level. A touch for this level will alarm all the trends in crude oil and the next target for this will be 65 for long term trend. A reversal to 75 will bring back the price to 76 level again.

Copper has been trading around at 2.958. A break 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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