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Commodities Daily Forecast – December 14, 2018

By:
Colin First
Published: Dec 14, 2018, 08:41 UTC

Gold The gold prices initially pulled back slightly during the Thursday's session only to find enough bullish pressure to turn around and continue moving

Commodities Daily Forecast – December 14, 2018

Gold

The gold prices initially pulled back slightly during the Thursday’s session only to find enough bullish pressure to turn around and continue moving higher. The gold prices need to break above the $1260 level in the short term, in order to maintain the bullish sentiment and which will eventually send the price towards the $1275 level. The 50 Day EMA line underneath will provide strong support to the pair moving forward. …Read More

Silver

The silver market remained bullish during the yesterday’s session trying to reach towards the $15 level which is a large, round, psychologically significant level. Breaking above the $15 level will attract fresh new buyers into the market and could send the prices towards the $16 level. The $14.60 level underneath should act as a strong support level. …Read More

WTI Crude Oil

The crude oil prices fell a bit during yesterday’s session as the market continues to witness strong support at the $50 level. The market is likely to move in a narrow range and if it drops below the $50 level, then crude prices can drop down to the $45 level. Moving forward, the market will continue to witness a lot of volatility. …Read More

Natural Gas

The natural gas prices moved a bit higher during yesterday’s session but it is likely that the market will struggle to move higher from here. The $4 level underneath is a strong support point and if it breaks below that level, then natural gas prices can break down to the $3.50 level. Going forward, short-term rallies will continue to offer a nice selling opportunity. …Read More

About the Author

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

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