Commodities Daily Forecast – December 5, 2017

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Published: Dec 5, 2017, 08:42 UTC

Gold The gold prices gapped lower during the yesterday's session reaching towards the $1275 level and hovered around the same region during most part of

Gold

The gold prices gapped lower during the yesterday’s session reaching towards the $1275 level and hovered around the same region during most part of the day. If the gold prices break below the $1270 level then the prices are expected to roll over towards the$1250 level. Given the recent developments in the market, the upward revision of gold market is unlikely and is expected to trade in a tight range. As the dollar gains strength, the precious metal counter will continue to struggle. …Read More

Silver

The silver prices were negatively inclined throughout the Monday’s session as it traded below the important $16.50 level. The market is expected to remain negative and any rally in the market will be sold off quickly. The $16.25 level underneath is a small support zone and $16 will be very supportive during the long term. Currently, the market will continue to be very tight and choppy and short-term trades are preferable in this type of market conditions. …Read More

WTI Crude Oil

The crude oil prices fell apart during the Monday’s session and now is testing the $57.50 level. The regular break down on top of the market indicating lack of buying pressure in the market and is expected to trade in the range of $55 and $57 level. The market is going through a lot of headwinds related to production cuts by OPEC and American drillers increasing flow on higher prices. The market will remain choppy and difficult to trade. …Read More

Natural Gas

The natural gas prices gapped higher above the $3.10 level at the open during the Monday’s session but faced significant resistance to break down ans is now testing the $3 level. If the prices break down below the $3 level, then it will go closer towards the $2.93 level and $2.83 level eventually. The market has become very unpredictable and given the seasonality issue in which demand rises, the market is expected to remain volatile and a break above $3.10 will be positive for the market. …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.