OSB Daily Technical Analysis for November 28, 2014

Light trading session on the day with Gold closing slightly lower on the day breaking below the $1190 handle on the day. Gold looks ready to go lower and is likely to break lower with a short term target of revisiting the $1150 handle. Support in the $1175-80 area.

Silver sold off on Thursday giving back much of the recent gains. Silver likely to be re-entering new down swing with a break below $16.00 leading to new lows and a likely retest of the $15.00 handle.

Copper testing new lows and looking to test key support levels in the $2.92-94 area. Copper is well supported in this range and is likely to bounce around here as it looks to remain above the $2.90 mark. Overall bearish bias remains very strong with Copper being a sell only market.

Crude Oil collapsed on Thursday breaking below the $70 barrier and making new lows as a Crude Oil price war appears to be kicking off between the OPEC producers and US Shale Gas producers. Crude Oil is a strong sell with lower prints imminent. High volatility to be expected.

Natural Gas sold off in a vary light trading session where volume was light due to the US Thanksgiving vacation. NG is likely to bounce around and test support in the $4.00 area.

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