OSB Daily Technical Analysis for December 12, 2014

Gold failed to move higher on the day finding strong resistance in the $1233 area. Strong resistance just above $1240 capping any strong upside move for now. A clean break above needed for Gold to have any real hope of going higher. On the downside support beneath at $1210-1215.

 

Silver traded in a tight range throughout the day giving back some and breaking below the $17.00 handle on the day. Market appears to be consolidating at this higher level prior to finding further direction.

Copper continues trading within a tight trading range lacking any real direction at the moment. A break above $2.94 extends to $2.97-$3.00. On the downside support below at $2.86.

Crude continues to make new lows and broke below the $60 barrier for the first time since 2009. Some bouncing around at this area to be expected with a retest of this key level which now becomes resistance. Overall crude remains a strong sell with further downside on the horizon.

Natural Gas attempt to rally fell short of bullish momentum eventually turning back to support in the $3.60 area. A break below this level extends to $3.50 in the first instance and likely lower from there. Weakness prevalent in the market dominating price action in NG.

 

 

Risk Disclaimer

Forex and CFDs are leverage products, involved a high level of risk and can result in the loss of all your invested capital. Forex and CFDs may not be suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience.

All information on this website, including any opinion, charts, prices, news, data, Buy/Sell signals, research and analysis is our point of view and is provided as general market commentary and does not constitute any investment advice.

OneStopBrokers.com will not accept any responsibility or liability for losses incurred by customers, visitors or traders as a result of using the data available on OneStopBrokers.com. Read more

 

---