Yahoo Finance Commodities Daily Forecast – December 12, 2017
Gold
The gold prices were relatively stable during the Monday’s session as it hovered around the $1250 level which is essentially the fair value from the longer-term consolidation between the $1200 level and the $1300 level. The gold market will be quite volatile in the next few upcoming sessions as the interest statement from the Fed is expected this Wednesday. A hawkish outlook will result in the market to break further as the dollar will continue to gain value. Any short-term trade in this market situation will be very difficult for traders. …Read More
Silver
The silver prices went sideways during the Monday’s session as the $15.75 level is providing a lot of support in the market. A break above $16 level is going to attract buyers into the market which will send this market up towards the $16.50 level. This market will be relatively quiet for the next 48 hours until the decision on rate hike by Fed comes out. The movement in gold price is the important driver for the silver market. …Read More
WTI Crude Oil
The crude oil prices initially rolled over a bit during the Monday’s session but then broke above the $57.50 level to show signs of strength. Any short-term pullbacks in the market will be a nice buying opportunity in the market with a target of $58.50 level. Alternatively, if this market breaks below the $57 level then it should send the prices down towards the $56 level. This market will remain volatile as due to lack of consensus on production cuts between different OPEC and non-OPEC members will influence this market. …Read More
Natural Gas
The natural gas prices gapped higher around the $2.85 level at the open on Monday’s session. Consequently, this move in the market will attract a lot of buyers into the market which will send the prices up towards the $3.10 level. The rise in the prices will largely for the short-term duration as the demand for natural gas increases in the US because of colder temperature. The level above $3.10 is very resistive extending up to the $3.20 level. …Read More
This article was originally posted on FX Empire
