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Commodities Daily Forecast – December 24, 2018

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

Gold

The gold prices continued to trade with a bullish momentum in the Friday’s session and now it has broken above the crucial $1260 level. The 50 Day EMA has also turned around higher which should continue to offer support. Weak USD and worries of slow global growth will continue to push the gold prices higher and break above $1300 level would send the gold prices towards the $1400 level. …Read More

Silver

The silver market was bit stable during the Friday’s session around the $14.70 level, trying to gain enough momentum to break higher above the $15 level which is massively resistive. Given the weak sentiments around the USD, the silver prices will continue to remain bullish and will try to reach above the $16 level above. …Read More

WTI Crude Oil

The crude oil prices drifted lower during the Friday’s session reaching down towards the $45 level, which is offering great support to the crude prices. If it breaks below the $45 level, then crude prices will break down significantly down to the $40 level. Going ahead, any short-term rallies will continue to be a nice selling opportunity with $50 as major resistance. …Read More

Natural Gas

The natural gas prices chopped around the $3.80 level during the Friday’s session as it is offering strong resistance. The 50 Day EMA is now offering strong resistance to the pair and will be difficult for the market to break above given the weak momentum. Underneath, the $3.50 and $3.20 level should offer strong support to the Natural Gas prices. …Read More

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