Commodities Daily Forecast – January 2, 2019

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Published: Jan 2, 2019, 08:49 UTC

Gold The gold prices have broken above the $1280 level in the Monday's session as it continues to find enough buyers underneath. If it breaks above the

Gold

The gold prices have broken above the $1280 level in the Monday’s session as it continues to find enough buyers underneath. If it breaks above the $1300 level, then it will easily reach towards the $1400 level in the long term. With weakness in USD, every pullback in the gold market will attract buyers. The 50 Day EMA and $1250 level underneath is an important support zone for the market. …Read More

Silver

The silver prices have broken above the $15.50 level in the Monday’s session but has since pulled back a bit from there. The $15 level underneath should continue to offer support and also 50 Day EMA underneath is also turning higher, which signifies longer-term strength. Pullbacks will continue to offer a nice buying opportunity in the market. …Read More

WTI Crude Oil

The crude oil prices continued to hold around the $45 level as it is showing signs of resiliency but is experiencing strong resistance above. The $50 level above is a strong resistance above and will be very difficult to break above. The 50 Day EMA is turning lower and selling rallies will continue to be the best way forward. The $42 level underneath is the next important support level. …Read More

Natural Gas

The natural gas market continues to face strong selling pressure and is currently trading near the $3 level, losing all the gains of the recent rally. If it breaches the $3 level, then it will easily break down towards the $2.90 level. The $3.10 level above will offer strong resistance and rallies will continue to offer a nice selling opportunity. …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.