Commodities Daily Forecast – December 5, 2018

Colin First

Gold

The gold prices rallied during yesterday’s session reaching towards the $1250 level using the 200 Day EMA line as support. If the gold prices break manages to break above the $1250 level, then it will continue to go much higher probably towards the $1400 level upon the longer term charts. Underneath, the $1200 level will continue to offer maximum support to the market. …Read More

Silver

The silver prices rallied during the Tuesday’s session using the support at the 50 Day EMA line and is now trying to break above the massively resistive $15 level. With some weakness around the USD, the silver market will continue to witness some sort of bullishness and if it breaks below the 50 Day EMA line, then it will turn out to be a seller’s market. …Read More

WTI Crude Oil

The crude oil prices tried to rally during yesterday’s session but the expectation of build-up of massive inventory in the US and the sluggish global economy is keeping the market under pressure. The $50 underneath is a massive support for the market and if it breaks below, then it can break down to the $45 level. …Read More

Natural Gas

The natural gas market continued to witness volatile swings during the Tuesday’s session showing resiliency around the $4.50 level. However, with abundant resource and capability to increase supply on very short time will always have a negative impact on the pricing. The $4 underneath is massively supportive and if it breaks below, then it can easily reach down to the $3.50 level. …Read More

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