Yahoo Finance Commodities Daily Forecast – December 13, 2017
Gold
The gold prices were relatively weaker during the Tuesday’s session as the market is expecting a hawkish outlook from Fed on interest rate hike. The market is below the $1250 level, which is essentially the fair value in the market in the long term. The gold prices are well supported at the $1225 level. Looking ahead, the gold market will be influenced by the movement in USD and is likely to be volatile. For long-term trades, this market can provide value to the investors. …Read More
Silver
The silver prices continued its volatile movement in the yesterday’s session as it is reacting to the interest rate announcement from the US coming out later in the day. The announcement will be critical for the precious metal counters as it will fix the future trend in the market. A hawkish outlook will make this market to fall towards the $15 level which is massively supportive on the long-term charts with $16 as a tough resistance. The market is expected to continue trade volatile in the next few sessions. …Read More
WTI Crude Oil
The crude oil prices initially tried to rally to go above the $58 level on Tuesday’s session but got enough resistance to roll over significantly. The crude prices sliced the $57.50 level during the process. The $57 level is going to be the important level in the market which will attract buyers into the market. This market is going through lot of noise in the recent times related to production cuts by OPEC and non-OPEC members which is causing volatility in the market. …Read More
Natural Gas
The natural gas prices initially went sideways during the Tuesday’s session maintaining the bullish pressure but then broke the $2.75 support level underneath later in the day. This has been a negative development in the market which will send this market towards the $2.50 level. The $2.85 level is now going to be massively resistive and until it breaks above, the selling pressure is expected to continue in the market. Being a high demand season for natural gas, the prices often command a premium but this has been a totally opposite trend. …Read More
This article was originally posted on FX Empire
More From FXEMPIRE:
The Bitcoin Week: Bitcoin Mania Continues as Prices Remain Near All Time High
Crude Oil Price Update – Market Set-up for Volatile Reaction to EIA Report
Technical Overview of GBP/USD, GBP/JPY, GBP/AUD & GBP/NZD: 13.12.2017
E-mini S&P 500 Index (ES) Futures Technical Analysis – December 13, 2017 Forecast
