Commodities Daily Forecast – December 21, 2017

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Published: Dec 21, 2017, 09:04 UTC

Gold The gold prices traded with an upside proclivity through the Wednesday's session as it tried to reach the $1275 level. The market is likely to

Gold

The gold prices traded with an upside proclivity through the Wednesday’s session as it tried to reach the $1275 level. The market is likely to continue the upside momentum and try to reach the $1300 in short term. Any pullback in the market will be a nice buying opportunity. Going forward, the gold prices will experience a lot of headwinds and if it breaks below the $1250 level then it will be a negative development for the market. …Read More

Silver

The silver prices initially pulled back a little on Wednesday’s session but then started to rally. The silver market is experiencing a resistance near the $16.25 level and if it is able to break above that region, then it should go to the $16.50 level. The silver market is likely to continue noisily as it goes ahead. The trend in the gold prices are likely to affect this market in the near term. …Read More

WTI Crude Oil

The crude prices rallied during the Wednesday’s session reaching towards the $58 level. The crude pulled back in the middle to test for the support at $57.50 level only to go ahead with the rally. If this market successfully breaks the $58.50 level which is massively resistive, then it will continue to go higher towards the $60 level. Going forward, the market is likely to experience a lot of volatility due to lack of liquidity especially during this time of the year and also the production issues. …Read More

Natural Gas

The natural gas price initially tried to rally past the $2.75 level during the Wednesday’s session but got enough resistance only to break down towards the $2.60 level. It has a lot of support near the $2.50 level and is expected to get a bounce from there. The market will be volatile in next few sessions due to the liquidity issues. The stochastic is in the oversold region and will send the prices bit higher. Any rally in the market 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.