Commodities Daily Forecast – December 31, 2018

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Published: Dec 31, 2018, 07:31 UTC

Gold The gold prices rallied during the Friday's session but the $1280 level above is showing signs of stiff resistance and will take a bit of momentum to

Gold

The gold prices rallied during the Friday’s session but the $1280 level above is showing signs of stiff resistance and will take a bit of momentum to break higher. Short-term pullbacks until $1250 level will continue to offer a nice buying into the market and if the gold prices break above the $1300 level, then it can easily reach towards the $1400 level. …Read More

Silver

The silver prices continued to move higher, reaching towards the $15.50 level before pulling back slightly in the Friday’s session. With USD continuing to lose momentum, the silver prices will continue to gain and if it breaks above the $15.50 level, then it can easily reach towards the $16 region. …Read More

WTI Crude Oil

The crude oil prices remained stable through Friday’s session, trading around the $45 level, as it is trying to form a bit of bottom. The market is likely to gain momentum from the start of next year when OPEC starts with planned production cut. The $50 above is a massive resistance and rallies at this point will continue to be a nice selling opportunity. …Read More

Natural Gas

The natural gas prices corrected significantly during the Friday’s session reaching down to the $3.10 level. The market has lost all of its recent gains and if it breaks below the $3.10 level, then it could reach towards the $3 level. The 50 Day EMA is also turning lower, which indicates that further correction is offing in the market. Short-term rallies are going to be a nice selling opportunity. …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.