Forecasts & Analysis, Page

Silver remains steady, just below the $17.00 level. We could see some movement later in the day, with the release of retail sales reports at 13:30 GMT.

Based on the early activity and the current price at 27814, the direction of the December E-mini Dow Jones Industrial Average the rest of the session on Friday is likely to be determined by trader reaction to Thursday’s close at 27746.

Based on the early price action and the current price at $1464.90, the direction of the December Comex gold futures the rest of the session on Friday is likely to be determined by trader reaction to the main Fibonacci level at $1471.00.

The Australian and New Zealand currencies have settled down on Friday after considerable losses a day earlier. The Chinese yuan has posted small gains against the U.S. dollar.

Based on the early price action and the current price at 98.020, the direction of the December U.S. Dollar Index on Friday is likely to be determined by trader reaction to the main 50% level at 98.095.

The latest downshift in global macro data is providing a not so subtle reminder of the pernicious effect the protracted US-China trade war is having on the worldwide economy.

It’s back into the red for the majors. As momentum shifts in favor of the bears, failure to move through to key levels could deliver heavier losses.

Trade talks hit yet another snag as demands for the U.S test China’s resolve. Economic data out of the U.S will also influence later in the day.

Jobless claims rise to a 3-month high

Natural gas prices whipsawed initially moving average on Thursday, following a smaller than expected build in natural gas inventories reported on Thursday by the Department of Energy. The weather is expected to become warmer than normal over the next 6-10 and 8-14 days, but over the next 5-days the weather

Short term momentum remains positive

GBP/USD has posted slight gains, shrugging off a weak U.K. retail sales report. EUR/GBP and USD/CAD are showing little movement.

The S&P 500 it almost nothing during the trading session again on Thursday as we simply kill time just below the 3100 level. That being said though, it is a bullish sign in the sense that we haven’t pulled back, and it looks as if the market is willing to

The silver markets initially try to break out during the trading session on Thursday but could not hang above the $17.00 level. By doing so, it shows just how much resistance there is above, as we danced just above the crucial 200 day EMA support level.

Although the markets are most certainly consolidating, the fact that buyers continue to come into the crude oil market is somewhat encouraging. Because of this, it’s very likely that the market will eventually try to reach the top of the larger consolidation range that we have been in.

Natural gas markets gapped higher during the open on Thursday as we continue to see a lot of volatility in this market. That makes sense, because quite frankly we have a lot of crosswinds going on at the same time.

Gold markets initially tried to rally during the trading session on Thursday but gave back quite a bit of the gains to turn around and show signs of weakness. Because of this, it could very well signify the gold is going to continue to struggle.

The US dollar has fallen a bit against the Japanese yen, breaking through the 200 day EMA but clearly has a significant amount of support just below as well. I think we continue the very messy trading, as markets have multiple issues to deal with at the same time.

The British pound pulled back slightly during the trading session on Thursday, but quite frankly is sitting still and killing time more than anything else at this point. This is a good sign considering just how strong the move higher had been.

The British pound has pulled back slightly against the Japanese yen during the trading session on Thursday but has found support yet again at the same in general vicinity. Ultimately, it looks as if the market continues to do more of the same.