Commodities Daily Forecast – November 30, 2018

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Published: Nov 30, 2018, 10:08 UTC

Gold The gold market rallied slightly higher during the Thursday's session reaching above the 50 Day EMA slope, which has been acting as a magnet line.

Gold

The gold market rallied slightly higher during the Thursday’s session reaching above the 50 Day EMA slope, which has been acting as a magnet line. Due to the presence of strong support levels, the market is likely to find enough buyers to push this market higher. If the market breaks above the $1250 level, then it will be a very strong sign and will probably look towards the $1400 level in the long term. …Read More

Silver

The silver market continued to bounce around the $14.20 level with 50 DAay EMA line offering strong resistance above. Until it breaks above this level, the market will find hard to attract buyers. Simultaneously a break above the $14.50 level will send the market towards the $15 level and above. …Read More

WTI Crude Oil

The crude oil market rallied a bit during the Thursday’s session but still is experiencing a lot of resistance above. With talks of cutting down supply by OPEC members gaining pace, the market is likely to witness some heavy buying. The $55 level above is massively resistive and if it breaks below the $50 level, then it could reach down to the $45 level zone. …Read More

Natural Gas

The natural gas rallied above the $4.50 level above during the yesterday’s session as the market has turned extremely volatile and unpredictable. The sellers are trying to get a grip of the market as there are multiple gaps underneath which it needs to fill. The $4 level is acting as a major support level and a break below could send the natural gas price towards the $3.50 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.