Commodities Daily Forecast – December 11, 2018

Colin First

Gold

The gold market pulled back slightly during Monday’s session, testing the $1250 level underneath, which now has turned supportive. At this point, pullbacks will continue to be a nice buying opportunity in the market and over a long period, it can reach towards the $1400 level. …Read More

Silver

The silver market was bit choppy in yesterday’s session testing the $14.50 level underneath. The 50 Day EMA underneath is also offering strong support to the pair with $15 level above is massively resistive. The market will continue to be choppy due to volatility in the USD and if it breaks below the $14 level, then possibly it will look towards the $12 region. …Read More

WTI Crude Oil

The crude oil prices consolidated in the Monday’s session around the $50 region. The market looks directionless in terms of where it should move forward. The $50 level underneath is clearly a strong support level with $55 level above is offering maximum resistance. If the market breaches the $50 level, then crude prices can easily break towards the $45 level. …Read More

Natural Gas

The natural gas prices initially tried rallying during yesterday’s session but ran into resistance at the top of the massive triangle that it has trapped into. The market is experiencing a lot of noise around the $4.50 level with $5 level above being massively resistive. Underneath the $4 level is offering strong support to the market. …Read More

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