oil

Commodities Daily Forecast – December 28, 2017

Gold

The gold prices continued to rally during the Wednesday’s session as it is more of a “risk on” move in the market and also the US dollar falling. The gold prices are likely to reach towards the $1300 level in next few session which is top of the long-term consolidation area and also massively resistive. The massive gap at the $1275 level underneath will be a point of concern for the market and will likely it will fill the gap in coming sessions. …Read More

Silver

The silver prices broke the $16.50 level in yesterday’s session as it rallied significantly. The strength in all precious metals counter and a weak dollar will likely to send the price of silver towards the $17 level. There are minor support and resistance around the $16.45 and $16.75 level respectively and any pullbacks will be a good buying opportunity. …Read More

WTI Crude Oil

The crude oil prices have faced a significant resistance at the $60 level and saw a little pullback from there basically due to the lack of volume. This level is also an important psychological level in the market and pullbacks are good opportunity to buy in this market. The $58 is going to provide support underneath and is it breaks further the $56.50 will be the next support.  …Read More

Natural Gas

The natural gas prices skyrocketed during the Wednesday’s session reaching the $2.75 level and above, using the $2.60 as a support. This area is quite important for the market because if it manages to cross above then it will go higher towards the $2.90 and $3 level eventually. The $2.50 is the important and strong support zone for this market. …Read More