Advertisement
Advertisement

Commodities Daily Forecast – April 10, 2018

By:
Colin First
Published: Apr 10, 2018, 09:05 UTC

Gold The gold market was choppy Monday's session initially moving lower but buyers came back aggressively to take this market forward. The $1350 level is

Commodities Technical Analysis

Gold

The gold market was choppy Monday’s session initially moving lower but buyers came back aggressively to take this market forward. The $1350 level is a strong resistance and until it breaks above, the market will move in a range bound manner. The break above $1360 will be crucial for this market to go towards the $1400 level. …Read More

Silver

The silver prices were very choppy during the Monday’s session as the $16.30 level was offering support. It looks likely that the $16.50 level will be massively resistive and if it breaks above then it will reach towards the $17 level next. The US Dollar has a huge influence on this market and is negatively correlated. At the moment, Buying on dips will be the right strategy to play this market. …Read More

WTI Crude Oil

The crude oil prices rallied significantly during the yesterday’s session to reach towards the $63.50 level using the general uptrend line for support. The $62 level is attracting a lot of buyers into this market and a break above the $64 level will send this market much higher towards the $66 level. In the longer term, the crude prices will move in a back and forth as the fundamental state of the crude oil market continues to be a very fluid state. …Read More

Natural Gas

The natural gas prices rolled over during the Monday’s session after reaching the upper price band of $2.70. The market is facing a lot of issues because of the lack of any positive support both fundamentally and technically. The $2.60 level continues to offer a massive support to the pair extending up to $2.50 level and a break below would be very negative for the market. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

Did you find this article useful?

Advertisement