Technical Analysis for December 08, 2014

XAU/USD breaks lower under 1200 to 1190 level for now. Another lower break might retouch 1175 level. A lower movement under 1175 will target last low around 1145 level once again and a higher movement will target 1250 next.

 

XAG/USD still trading around 16.3 level. A higher movement over 16.6 level will target 16.8 level and lower level target next is 16 level first. After that, eventually it will move lower to 15 level.

 

Crude Oil still trying to retest 65 level and currently trading at 65.6 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. Once it breaks under 65 level, it will target 60 next.

 

Copper lowly grinds higher to 2.92 level for now. A break above 2.95 will target 3 next and a bear movement under 2.9 will target 2.8 once again. A reversal is very likely due to the current volatility in the market.

 

 

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