Commodities Daily Forecast – January 3, 2019

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Published: Jan 3, 2019, 12:36 UTC

Gold The gold prices continue to strengthen in the Thursday's session reaching towards the $1290 level. The 20 Day EMA is ready to cross above the 50 Day

Gold

The gold prices continue to strengthen in the Thursday’s session reaching towards the $1290 level. The 20 Day EMA is ready to cross above the 50 Day EMA which is very bullish and will continue to support the gold prices higher. A break above $1300 level will send the prices towards the $1400 level in the long term. …Read More

Silver

The silver prices continue to grind higher during yesterday’s session as the market is approaching the $16 level. The silver prices have breached above the 50 Day EMA line and both 20 & 50 Day EMA is turning higher, which is a positive for the market. A break above $16 level would lead the market towards the $17 level above, which has been a major resistance in the past. …Read More

WTI Crude Oil

The crude oil prices initially rallied during yesterday’s session but pulled back to reach down to the $45 level, which is offering strong support to the market. The $50 above is a strong psychological level ahead and it will be difficult for the market cross above. The market is expected to trade rangebound between $45 and $50 in the short to medium term. …Read More

Natural Gas

The natural gas prices have now breached the $3 level, and is currently trading near the $2.90 level. The current selling pressure has fully wiped out the seasonality of bullishness. The market will continue to witness plenty of bearish pressure and every rally will be a good selling opportunity. The next major support for the natural gas prices is at $2.78 level. …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.