Commodities Daily Forecast – December 7, 2017

By:

Published: Dec 7, 2017, 07:55 UTC

Gold The gold prices were extremely volatile during the yesterday's session testing the $1262 as a support. The negative biases in the gold market will

Gold

The gold prices were extremely volatile during the yesterday’s session testing the $1262 as a support. The negative biases in the gold market will effectively send this market towards the $1250 level which is also the area of consolidation. As the dollar is gaining strength, this market will remain under pressure and buying into these dips looks an attractive proposition in the long-term. The market will continue to remain volatile in the short term period. …Read More

Silver

The silver prices broke the important $16 level in Wednesday’s session which is a psychologically significant number. The market is likely to fall towards the $15.50 level and if market succeeds to break above the $16.20 level then it can negate some of the bearish pressure and will then move towards the $16.50 level. The weak sentiments in all the precious metal counters will also keep this market under pressure. …Read More

WTI Crude Oil

The crude oil prices broke off significantly during the yesterday’s session as it tried to cross the $57.50 level. The fall in the market is much due to higher inventory numbers than anticipated. Any rally in the market will be effectively sold off and given enough time in the market the $55 level will become the fair value of this market. …Read More

Natural Gas

The natural gas prices rallied initially during the yesterday’s session but faced significant resistance to moving higher and then fell lower. The $2.85 level is going to be the important level for this market and buyers are likely to get involved in for small profits until it crosses the $3 level where the real trouble for this market begins. The overall attitude of this market is fully bearish and will trade volatile. …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.