Commodities Daily Forecast – April 12, 2018

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Published: Apr 12, 2018, 08:02 UTC

Gold The gold prices rallied significantly during the Friday's session breaking above the $1350 level and reaching towards the $1365 level. The market now

Gold

The gold prices rallied significantly during the Friday’s session breaking above the $1350 level and reaching towards the $1365 level. The market now is likely to continue moving higher towards the $1375 level and then eventually $1400 level. If it manages to break above this level, then it will be a “buy and hold” scenario in this market. Pullbacks will offer a good opportunity to enter this market and $1350 level will continue to offer strong support. …Read More

Silver

The silver market showed its strength during the Wednesday’s session as it broke above the $16.75 level. This will allow the market to move higher reaching towards the $17 level above and then $17.50 level. Short-term pullbacks will provide excellent opportunity to enter this market and $16.50 level underneath will act as a strong support zone. …Read More

WTI Crude Oil

The crude oil market rallied during the Wednesday’s session slicing through the $66 level which was a major resistance level. If this market succeeds to break above the $67.50 level then it will continue to move higher reaching towards $70 level and above. The $65 level underneath will continue to offer strong support and if it moves below this level then it would be looking towards the $64 and $63 level. …Read More

Natural Gas

The natural gas prices initially fell during the Friday’s session but got enough support at the $2.62 level to turn around and bounce higher reaching the $2.68 level. The market has plenty of resistance above and will be very difficult to move higher. The current state of oversupply in the market will continue to keep this market lower. …Read More

About the Author

Colin Firstauthor

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