Technical Analysis: Commodities – Dec 04
Technical Analysis for December 04, 2014
XAU/USD (GOLD) slowly grinds back higher and trade around 1210 level for now. A lower movement under 1175 will target last low around 1145 level once again and a higher movement will target 1250 next.
XAG/USD (SILVER) still trading at 16.4 level without any changes. Currently the market will target 16.8 next for the higher movement and SILVER will target 15 level for the lower movement. A break of 15 level will target 14.4 next, the last low level. XAG/USD still have not escaped from the last trading range.
Crude Oil trying a lower movement once more again to 65 and currently is trading at 67.55 level. A break over 68 level will once again target 69 and a lower movement under 67 level will bring back the bear push lower to 65 level. Currently Crude Oil has been trapped sideways around 66.8 – 68 level.
Copper moves lower to 2.886 level and trying to slowly back to the lower level around 2.8. A higher movement will target 3 level again and a lower movement reversal that breaks 2.87 level will target 2.8 level again next. Copper trying to escape from sideways and keep grinding lower.
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