Commodities Daily Forecast – December 4, 2018

Colin First
Technical Update For Gold, Silver & WTI Crude Oil: 12.01.2018
The container terminal at dusk

Gold

The gold prices rallied higher during the Monday’s session, breaking above the 50 Day EMA slope, which is a very positive development for the market. The market has a significant amount for resistance placed at the $1250 level, which is also a psychologically significant figure. If it breaks above it, then it can go as high as $1400 level but the noise around will keep the market volatile. …Read More

Silver

The silver prices have gone high during the yesterday’s session, breaking above the 50 Day EMA line. The silver is now trying to break above the $14.50 level above, which is has significant importance and if it successfully breaks above, then it could reach $15 level. The $14 level underneath will be the important support level, and if it breaks down below this, then it opens up the door to the $12 level next. …Read More

WTI Crude Oil

The crude oil prices gapped higher during yesterday’s session, reaching as high as $54 level, but gave back all the gains. The market is anticipating supply cut in the next OPEC meet through 2019, which will push the crude prices higher. If the crude price breaches the $55 and $57.50 level, then the market could witness a rally in prices. …Read More

Natural Gas

The natural gas market had a volatile session yesterday, as it broke below the $4.50 level and reaching down to the uptrend line. The market currently is in the overbought situation and sellers are making way to enter the market. If the market breaks further down to the $4 level, then it could possibly reach towards the $3.75 and $3.50 level. …Read More

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