EUR 259.23 For Business Accounts Only

COMMODITIES OUTLOOK -December 2018 - 2018’s Base Metals’ Correction Incomplete – Gold & Silver Forecast Lower until Year-End

In This Edition: The US$ dollar has held up close to this year’s highs during the last month which has created headwinds for most of the major commodity markets. The other negative aspect is uncertainty surrounding the up-coming trade-tariff talks between the U.S. and China at the G20 meeting in Buenos Aires, Argentina at the end of November. But there’s also a growing concern about a slowing of growth in developed economies. Despite strong stock market declines in October, we remain more optimistic than current bearish sentiment figures show – but amongst more positive forecasts in U.S. indices, commodity markets remain under pressure.

Base Metals are still engaged in counter-trend declines that began earlier this year and have yet to reach Elliott Wave downside targets before resuming ‘Inflation-Pop’ uptrends – this month’s report takes an updated look at just how far away prices are in reaching optimum downside targets.

Precious Metals have mostly remained locked into the final stages of 2½-year counter-trend declines but are also some months away from reaching downside price levels that signal a return to a more sustainable uptrend.

And then there’s Crude/Bent oil – these two contracts broke integral support levels earlier last month which triggered a wider sell-off with Crude oil down -35% per cent from its October high. But what does this mean?-  are prices now in a secular downtrend or have they a chance of trending higher next year? – we take a look!