Commodities Daily Forecast – December 15, 2017

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Published: Dec 15, 2017, 10:15 UTC

Gold The gold prices pulled back slightly during the yesterday's session after it broke the $1250 level in the close of the previous session. The market

Gold

The gold prices pulled back slightly during the yesterday’s session after it broke the $1250 level in the close of the previous session. The market is now looking supportive at the $1250 level. The market seems to build momentum to go higher towards the $1275 level but the process is going to be slow. If it breaks below the $1240 level then the market should reach the $1225 level. The long-term view of this market is going to be buy and hold type situation. …Read More

Silver

The silver market was extremely volatile in the past two sessions. Initially moving in the sideways momentum, the prices broke down below the $16 level and then went as low as $15.80 level. This region will attract buyers into the market to take it higher and a close above the $16 level will be positive for the market. Alternatively, if this market falls then $15 will be the next major support for the market. …Read More

WTI Crude Oil

The crude oil market was extremely volatile in the yesterday’s session, initially moving sideways and then dipped down to the $56 level but recovered quickly. The market seems to be very resistive above the $57.50 level and sellers are more likely to get involved in that area. The market will remain volatile as OPEC moves for the cut in production but at the same time Americans are flooding the market to keep the prices in check. …Read More

Natural Gas

The natural gas prices moved lower during the yesterday’s session as it moved towards the $2.65 level. The market has been bearish for past couple of session and is likely to head towards thead0 level in near future. If the prices manage to break above the $2.85 level then it can move higher towards the $3 level. …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.