Commodities Daily Forecast – November 26, 2018
Gold
The gold prices went back and forth during Friday’s session, hovering around the $1220 level which is also crossing the 50 Day EMA line. This line is basically acting as a magnet for the gold prices, and if it manages to stay above this line, it will continue to attract buyers. A break below this line will send the price much lower with major support at $1200 level. …Read More
Silver
The 50 Day EMA and $14.50 level is proving to be extremely resistive for the silver market, as the market is struggling to break above. If the market breaks down below the lows, it is likely that it will reach down to the $12 level. However, break above the $14.50 & $15 level will send the market much higher, likely towards the $16 level. …Read More
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WTI Crude Oil
The crude oil market took a hard beating the Friday’s session, losing roughly around 7% to reach down to the $50 level. The market is currently holding the $50 level, which is also has a certain amount of psychological importance. It is unlikely that the market will rally significantly from here as the $55 level will continue to offer maximum resistance. A break below the $50 level will send the crude oil prices to $45 level. …Read More
Natural Gas
The natural gas counter started showing signs of exhaustion as it broke down during the Friday’s session. The market has rallied extra-ordinarily during the past few sessions and is likely to correct itself. The market is currently at sell on rallies strategy and $3.50 level underneath is the next major support for the market. …Read More