Commodities Daily Forecast – January 4, 2019

Colin First
Commodities Technical Analysis

Gold

The gold prices rallied during the Thursday’s session, moving towards the $1300 level. The US job figures today will keep the market volatile and if it fails to meet the estimate, then more buying in the gold market will follow and eventually will break above the $1300 level. The $1280 level underneath is important support and pullbacks will continue to offer a nice buying opportunity. …Read More

Silver

The silver prices rallied during yesterday’s session, reaching towards the $15.80 level. With US job numbers coming out later today, the silver market will remain volatile. The $15.50 level underneath will continue to offer maximum support to the market and pullbacks will be a nice buying opportunity. …Read More

WTI Crude Oil

The crude oil prices went back and forth during yesterday’s session, with 20 Day EMA offering a bit of resistance. Ultimately, the market has extreme resistance at the $50 level, that extends up to the $55 level. Until the market breaks above the $55 range, selling pressure will continue in the market. …Read More

Natural Gas

The natural gas market continues to see massive bearish pressure, breaking lower during the yesterday’s session. With slowing down in the global economy and softening in crude oil prices, the natural gas prices will continue to trade under pressure. Rallies at his point will end up being a selling opportunity. …Read More

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