Commodities Market Morning Brief: December-16-2015

Posted on Posted in Commodities

WTI Crude Oil January-2016 Futures

Oil is currently trading @ 37.13 and consolidating its most recent gains. Resistance is @ 38.00  and support @ 36.50 – 36.00.

Several factors are weighing in on the price of oil:

(5:42am PT)

 

Gold February-2016 Futures

Currently trading @ 1073.00 and being up over 11 points, one might not even suspect the Fed is king rates. However, it looks like gold is telling us that the pace of future interest rate increases will be moderate to dovish. Resistance is  @ 1080-1090 and support is @ 1060 and 1045. (6:02am PT)

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