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Commodities Daily Forecast – December 6, 2018

Colin First
Commodities Daily Forecast – December 6, 2018

Gold

The bullish momentum continued through the Wednesday’s session in the gold market, as the market is trying to break above the $1250 level. The 50 Day EMA line just below is providing important support to the market. If the gold prices move above the $1250 level, then it can fresh new buying will happen in the market and take price forward towards the $1400 level in the long term. …Read More

Silver

The silver market pulled back during the yesterday’s session as the $14.50 level underneath continues to offer a lot of attention. The 50 Day EMA line underneath is offering a strong support to silver prices and if it breaks below, then it can break down towards the $14 level or much lower. …Read More

WTI Crude Oil

The crude oil prices tried rallying during yesterday’s session but due to thin liquidity, the market struggled to move higher. The $55 level above is massively resistive and break above will be extraordinarily bullish. The $50 level underneath continues to be a strong support point for the market. …Read More

Natural Gas

The natural gas market is showing signs of exhaustion as it is now losing momentum after the extraordinarily bullish phase. The natural gas price is now hovering just below the $4.50 level and at this point, the market is likely to move further lower probably towards the $4 level. In the higher side, the $5 level is massively resistive and unlikely to break above this level. …Read More

This article was originally posted on FX Empire

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