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Commodities Daily Forecast – December 11, 2017

Inspecting oil drums

Gold

The gold prices went on a back and forth movement during the Friday's session as it tested the $1250 level for resistance and breaking above there will be a bullish sign for the market. But with USD gaining value on the back of stronger job number, the gold prices are likely to stay under pressure. And, with an upcoming statement on interest rate hike from Federal Reserve will make this market more nervous. The $1225 level is going to be next support level for this market and then at the $1200 level. …Read More

Silver

The silver prices were slightly positive during the Friday's session but failed to break above the $16 level which is an important level in the chart. The short-term rallies in the market will probably run into a bit of resistance and if it able to break above the $16.15 level, then it could be the buying opportunity in the market. The $15.50 level is going to be the next support level for this market and then at the $15 level. …Read More

WTI Crude Oil

The crude oil prices initially went in a sideways direction on Friday's session but then shot higher to break above the $57.50. It came back a little below the $57.50 level as this is area is massively resistive for the market. The market is trying to figure out the trend of this market amid noise on production issues from OPEC and non-OPEC states. This market will remain volatile with $55 acting as a floor of this market. …Read More

Natural Gas

The natural gas prices stayed calm during the Friday's session as it found support at the $2.75 level. The market from here is likely to rise higher as this level has been massively supportive in the longer term. A break above $2.80 will send this market towards the $2.93 level. Given the nature of unpredictable move in the past few session, this market is expected to continue volatile. With demand increasing from the US on back of colder temperatures, the prices will see some upward revision. …Read More

This article was originally posted on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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