Commodities Daily Forecast – December 20, 2018

Colin First
Crude Oil daily chart, March 14, 2018
Container Cargo freight ship with working crane bridge in shipyard.

Gold

The gold market tried to break above the $1250 level in the Wednesday’s session, but faced significant resistance and also the market was concerned about the rate hike decision from the Fed. The market is likely to continue its bullish momentum and if it manages to break above the $1250 level and $1260 level, then it can easily reach towards the $1300 level next. …Read More

Silver

The silver market was a bit choppy ahead of the major decision by Federal Reserve. The silver market is likely to continue with the bullish momentum and will try to break above the $15 range. However, in the short term, the market is likely to witness some pullbacks but will continue to be a good buying opportunity. …Read More

WTI Crude Oil

The crude oil prices bounced a bit during yesterday’s session but is likely to face strong resistance at the $50 level and beyond that, there are multiple resistance extending all the way to $55 level. The bearish momentum is likely to continue in the market as fundamentals are not supporting the higher price now. …Read More

Natural Gas

The natural gas prices tried rallying higher during yesterday’s session but ran into resistance at the $3.80 level. The market continues to be “sell on rallies” strategy and also 50 Day EMA line above continues to be massively resistive. The next major support for the natural gas market is $3.50 and then at $3.20 level eventually. …Read More

 

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