OSB Daily Technical Analysis for October 13, 2014

Gold traded in a tight range of Friday managing to find support at the $1220 level which now appears to be a base support area. Bounce poised to continue with a likely test of resistance at $1240. Alternatively a close below $1210 likely to see a test of support at the $1200 area.

Silver consolidation on Friday closing largely unchanged from Thursdays close. Resistance above in the $17.60-80 area. Silver remains bearish and is looking to consolidate at these levels.

Copper continues to flirt with the $300 level dipping below briefly on Friday and looking for direction to either side. $300 still significant support level with resistance above at $305.00. Bearish.

Crude Oil bounce on Friday closing above the $85.00 handle. Crude remains significantly bearish with any bounces likely to be short lived. Resistance above in the $87-90 area is significant. Support below at $82.50 area.

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