Commodities Daily Forecast – January 11, 2019

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

Gold

The gold prices struggled around the $1290 level, as it failed to move ahead towards the $1300 level and has fallen down a bit. The $1300 level is a psychologically important level for the market and a break above could send the market towards the $1400 level. The 20 & 50 Day EMA underneath continues to offer strong support to the market along with the $1250 level, which is the floor of this market. …Read More

Silver

The silver prices have pulled back a bit towards the $15.60 level in the Thursday’s session, which looks like a consolidation move. The $15.50 level underneath should offer strong support just as 20 Day EMA underneath. Pullbacks will continue to be a nice buying opportunity and if it can break above the $16 level, then it can easily reach towards the $17 level. …Read More

WTI Crude Oil

The strength in the crude oil prices continued through the Thursday’s session, as it is testing the major resistance level above at the $52.50 level. With 50 Day EMA started turning higher which is also the strong support, the market is likely to continue moving higher. A break above $55 level would open the door towards much higher prices. …Read More

Natural Gas

The Natural Gas traded in the narrow range between $2.90 and $3 level in yesterday’s session, as the real momentum is missing from the market. The market will continue to trade bearish and could roll down towards the $2.75 level in the short t0 medium term. Rallies in the market will continue to offer a nice selling opportunity. …Read More

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