Technical Analysis: Commodities – Dec 10
Technical Analysis for December 10, 2014
XAU/USD reaches the last target at 1225 and keeps grinding higher from the last sudden higher break. Next target for higher movement will be 1250 and a reversal under 1200 will enter sideways again at 1190 – 1210 level.
XAG/USD breaks higher above 16.8 and reached 17 line. A reversal under 16.6 will send the price back to 16.3 level due to the high volatility in the market. A higher break will target 17.6 level next.
Crude Oil finds price stability around 63 level and keeps trying to make a lower break. A break under this level will retest 62 and eventually reach 60 level next. A break higher than 66 level will recover the strong bull movement to 69 level.
Copper still trading sideways around 2.9 – 2.94 level but slowly rising here. Even if it has tried for a break out it eventually retraces. An above 2.96 again will target 3 next and a bear movement under 2.9 will target 2.8 once again.
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