Commodities Daily Forecast – December 19, 2018

Gold

The gold market was stable during the Tuesday’s session ahead of the Fed’s statement on interest rate hike later today. If the Fed moves forward with a hike, then this market will turn slightly negative in the short term reaching down to the $1200 level, which is massively supportive. A break above $1260 level will help the market to reach towards the $1400 level in the long term. …Read More

Silver

The silver prices went back and forth during yesterday’s session as it continued to bounce just around the 50 Day EMA. After the Federal Reserve outcome on rate hike decision, the market is likely to get a direction as silver prices are highly sensitive to the USD. If the silver prices break above the $14.90 level, then it will easily break towards the $16 level. …Read More

WTI Crude Oil

The crude oil prices fell further lower reaching the $46 level as the market looks concerned about the global growth and demand shrinking down. The $45 level should offer strong support to the market with strong resistance placed at $50 level. If it breaks below the $45 level, then next support is at $42.50 level. …Read More

Natural Gas

The natural gas prices rallied a bit during yesterday’s session trying to reach towards the $4 level. With market broken down significantly in the last one session, it will be difficult for the prices to move higher further and rallies will act as a good selling opportunity. Underneath, the $3.50 level should offer strong support to the natural gas prices. …Read More