Commodities Daily Forecast – December 18, 2018

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Published: Dec 18, 2018, 07:17 UTC

Gold The gold prices pulled back slightly during the Monday's session reaching down to test the 50 Day EMA but then turned around showing signs of

Gold

The gold prices pulled back slightly during the Monday’s session reaching down to test the 50 Day EMA but then turned around showing signs of strength. The $1225 level above is offering significant resistance but there might be some weakness as the Fed is likely to hike interest rates this week. If the gold prices succeed to break higher above the $1255 level, then it will continue to move higher. …Read More

Silver

The silver market was mostly stable in yesterday’s session, hovering just above the 50 Day EMA slope which is offering strong support to the market. All the precious metal counter including Silver will likely to be under slight pressure as Fed is looking to hike interest rates. Alternatively, if the silver prices can break above the $15 level, then it will continue to move higher. …Read More

WTI Crude Oil

The crude oil prices have broken below the crucial $50 level in the yesterday’s session as due to worries of shrinking global demand. The crude oil prices will continue to trade weak with next major support is at $45 level. The $50 and $52.50 level above will now offer significant resistance to the market. …Read More

Natural Gas

The natural gas prices gapped lower at the open, breaking below the $3.75 level to reach down to the $3.60 level. Overall the bullish momentum in the natural gas counter is all but over and rallies will continue to be a nice selling opportunity. The $3.50 level underneath should offer strong support and if it breaks down, then it can possibly reach down to the $3.20 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.