Commodities Daily Forecast – December 31, 2018

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

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

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