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Friday, September 23, 2011

HAPPY MORNING -- GOLD,SILVER,CRUDE OIL, COPPER - SEP 23RD

The increasing fears of recession tirggered a sharp sell off in the Commodities space yesterday.

Gold (1747) is trading below 1750 and now it has a threat of falling further to 1650 as we see a Double-Top on the charts.

Silver (36.27) fell below its significant Support at 38 and can now test 34-33 on the downside.

Nymex Crude (81.00) fell sharply below 84 to a low of 79.66 and could fall further to 75 or even 70 on a strong break/close below 80.

Copper (3.43) tanked to a low of 3.40 yesterday and can test 3.00 on the downside going forward.