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Commodities Daily Forecast – December 20, 2017
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Gold The gold prices remained under pressure in yesterday's session as it fell below the open price after initially moving higher. The $1250 is going to
Gold
The gold prices remained under pressure in yesterday’s session as it fell below the open price after initially moving higher. The $1250 is going to be the important support level in this market. The market will remain volatile due to the dollar price movement and the $1275 level will be the major resistance point. A break above there could possibly lead the market higher towards the $1300 level. …Read More
Silver
The silver prices initially went higher during the yesterday’s session but then rolled over a bit as due to the volatility. Going ahead, all the precious metal counter including the silver will find enough resistance to go higher. The liquidity will also be an issue in this market as the holiday season approaches. The $16 level will be the important support level and until it breaks below the $15.75 level, it will attract buyers into the market. …Read More
WTI Crude Oil
The crude prices rallied a bit during the Tuesday’s session but as it reached the $57.50 level it got enough resistance only to get pulled back. Going ahead there will be a lot of noise in the market related to the production issue. A break above $58 will effectively send this market higher. Alternatively, the $55 level underneath will be the floor of this market. …Read More
Natural Gas
The natural gas market continued to be very noisy as it experienced massive resistance at the $2.75 level. This was the major support region previously and breaking above will be difficult for the market. Any rally in this market will find enough selling pressure because of the oversupply issue in the market. Essentially, the prices will move in the range $2.50 level and $2.85 level in next couple of sessions. …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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