Commodities Daily Forecast – December 18, 2017

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Published: Dec 18, 2017, 08:35 UTC

Gold The gold prices were bit volatile on Friday's session as because the US dollar was bit noisy. The $1250 is the fair value of the gold so a lot of

Gold

The gold prices were bit volatile on Friday’s session as because the US dollar was bit noisy. The $1250 is the fair value of the gold so a lot of activities will go around this level. If the prices managed to break above the $1260 level then it will go much higher towards the $1275 level which is significantly resistive. A break down below $1250 and $1240 will be a major negative for the market which will break this market further towards the $1200 level. …Read More

Silver

The silver prices were initially sideways on Friday’s session but then found enough bullish pressure to break above the $16 level. The market is experiencing a “risk on” trade and the $15.50 level is going to be the important support of this market. The breaking above of $16 level is a positive signal for the market and will go towards the $16.50 level and $17 level eventually. …Read More

WTI Crude Oil

The crude prices were generally sideways during the Friday’s session as the $57.50 level offered a bit of resistance. The market, in general, continues to be volatile as due to concerns about demand and supply. With OPEC going ahead with production cut and US refiners flooding the market is keeping the prices under pressure. The market has stuck in a short-term range of $56.50 – $58.50 level. …Read More

Natural Gas

The natural gas prices initially went sideways on Friday’s session but then broke below to reach the $2.50 level which is considered a floor of the market. The $2.75 level is going to be significantly resistive to cross above given the conditions in the market in last few sessions. A bullish breakout will effectively send this market towards the $3.10 level and given the seasonal uptick in demand due to harsh winters in the US. …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.