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Commodities Daily Forecast – November 26, 2018

By:
Colin First
Published: Nov 26, 2018, 07:31 UTC

Gold The gold prices went back and forth during Friday's session, hovering around the $1220 level which is also crossing the 50 Day EMA line. This line is

Crude Oil daily chart, March 14, 2018

Gold

The gold prices went back and forth during Friday’s session, hovering around the $1220 level which is also crossing the 50 Day EMA line. This line is basically acting as a magnet for the gold prices, and if it manages to stay above this line, it will continue to attract buyers. A break below this line will send the price much lower with major support at $1200 level. …Read More

Silver

The 50 Day EMA and $14.50 level is proving to be extremely resistive for the silver market, as the market is struggling to break above. If the market breaks down below the lows, it is likely that it will reach down to the $12 level. However, break above the $14.50 & $15 level will send the market much higher, likely towards the $16 level. …Read More

WTI Crude Oil

The crude oil market took a hard beating the Friday’s session, losing roughly around 7% to reach down to the $50 level. The market is currently holding the $50 level, which is also has a certain amount of psychological importance. It is unlikely that the market will rally significantly from here as the $55 level will continue to offer maximum resistance. A break below the $50 level will send the crude oil prices to $45 level. …Read More

Natural Gas

The natural gas counter started showing signs of exhaustion as it broke down during the Friday’s session. The market has rallied extra-ordinarily during the past few sessions and is likely to correct itself. The market is currently at sell on rallies strategy and $3.50 level underneath is the next major support for the market. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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