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Commodities Daily Forecast – December 19, 2017
By:
Gold The gold prices rallied during the Monday's session breaking above the $1260 level. By breaking above, the market is likely to go higher towards the
Gold
The gold prices rallied during the Monday’s session breaking above the $1260 level. By breaking above, the market is likely to go higher towards the $1275 level with a support at the $1250 level underneath. The strength in the counter is mainly due to weak dollar. On the weekly chart, the gold prices have broken above the hammer like a candle from the previous week which is a bullish move in the market. …Read More
Silver
The silver prices opened below the $16 level on Monday’s session but then rallied significantly to fill that gap and break above but at the end of the session it pulled back to test the $16 level. If this market breaks above the recent high, then it could reach the $16.35 level. Short-term pullbacks in the market will offer value in this market. A break below the $15.90 level will pull the market down. …Read More
WTI Crude Oil
The crude prices initially tried to rally during the Monday’s session breaking above the $57.50 level but then rolled over to the $57 level. The market is very resistive around the $58 level and any short term rallies in the market will be a nice selling opportunity. Eventually, if this market breaks below the $55 level, then it will pull this market firther down towards the $53.50 level. …Read More
Natural Gas
The natural gas prices gapped higher at the open during the Monday’s session and the rallied higher to reach the $2.75 level. This area is bit resistive in the market and if it breaks and goes above the $2.85 level, then it will be a positive development and the market then could reach $3 level. Given the volatility in the counter, any bullish pressure in the counter will attract sellers into the market. …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.
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