Commodities Daily Forecast – December 10, 2018

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Published: Dec 10, 2018, 07:02 UTC

Gold The gold prices rallied significantly higher breaking above the $1250 level during the Friday's session after the release of job numbers. This is

Gold

The gold prices rallied significantly higher breaking above the $1250 level during the Friday’s session after the release of job numbers. This is obviously a positive sign for the market and will continue to attract buyers. If the gold market breaks above the top of the range of Friday’s session, then it can go further higher towards the $1300 level. …Read More

Silver

The silver market rallied a bit during the Friday’s session clearing above the 50 Day EMA level, which is a bullish sign for the market. The silver price now is likely to reach towards the $15 level, an area that has a massive resistance. If the market breaks out above that region, buyers will definitely take this market higher towards the $16 level. …Read More

WTI Crude Oil

The crude oil prices continued to hover around the $52.50 level in the Friday’s session as the cut in supply by OPEC is not likely to be that deep as earlier planned. The $54 level above continues to be a major resistance level that extends up to the $55 level. If the prices break down below the $50 level, then it can reach down to the $45 level. …Read More

Natural Gas

The natural gas prices were extremely volatile during the Friday’s session, reaching down to the $4.25 level initially and then bounced back towards the $4.50 level. The traders seem a lot more confused with the current price level as the market has rallied significantly in the past sessions. Underneath, the $4 level continues to be a major support level for the natural gas prices. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.