OSB Daily Technical Analysis for November 27, 2014

Tight trading range for Gold on Wednesday which continues to consolidate and bounce around in the $1200 area. Pair likely to remain in the $1210-$1190 band for now.

Neutral session for Silver which edged slightly lower on the day giving back very little of recent gains. Trader indecision and lack of direction dominate theme in Silver at the moment. Support below at 16.25 needed to be broken through for Silver to resume new down leg.

Negative day for Copper which remained below $3.00 for the whole trading session. Main question is whether Copper is now softening enough to go lower from here. A break below the low 2.94 required to convince that this is the case.

Crude Oil closed below the $74 resistance barrier testing recent lows at $73.22. Price action suggests Crude is preparing to go lower from here. Further support at the $72.50 likely to be tested. Light trading in coming sessions as the US Thanksgiving holidays take hold.

Natural Gas sold off after making a push to the $4.50 area in the early session. NG is likely to continue bouncing around in the vicinity as it remains highly volatile.

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