Commodities Daily Forecast – December 26, 2018

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Published: Dec 26, 2018, 07:54 UTC

Gold The gold prices rallied during the Monday's session, reaching towards the $1270 level as USD continues to struggle against the major currencies. A

Gold

The gold prices rallied during the Monday’s session, reaching towards the $1270 level as USD continues to struggle against the major currencies. A break above $1300 level, will attract fresh new buyers into the market which could trigger the gold prices towards the $1400 level, in the long term. The $1250 level underneath will continue to offer strong support to the market. …Read More

Silver

The silver prices were mostly sideways during the Monday’s session, hovering around the $14.80 level. The weakness in the USD against major currencies will continue to support the market. The $15 level above is massively resistive, and if it breaks above that level, then it will continue to move further higher toward the $16 level. …Read More

WTI Crude Oil

The crude oil prices have broken below the $45 level in the Monday’s session, triggering a fresh new selloff, in which crude prices broke down to the $42 level. The overall momentum of the market is very bearish and will struggle to break higher from here. The $40 level underneath continues to be a major support level for the crude oil market. …Read More

Natural Gas

The weakness in the natural gas prices continued through the Monday’s session, as it is now moving around the $3.50 level. Given the weak sentiments in the market, the natural gas prices are likely to break down towards the $3.20 level in the next few sessions. The 50 Day EMA line above will continue to offer strong resistance to the natural gas prices. …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.