Commodities Daily Forecast – April 18, 2018

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Published: Apr 18, 2018, 10:00 UTC

Gold The gold market continued to be choppy during the Tuesday's session as it pulled back towards the $1338 level to find buyers again. By doing this,

Gold

The gold market continued to be choppy during the Tuesday’s session as it pulled back towards the $1338 level to find buyers again. By doing this, the market is trying to build up enough momentum to break above the $1350 level. The move above there will send the market towards the $1400 level in the long term. …Read More

Silver

The silver prices were volatile during the Tuesday’s session initially moving towards the $16.50 level but found enough support just above the $16.55 level to continue moving higher as the traders got bullish. The US dollar will continue to influence this market and as USD is falling value, the silver market will trade higher. The next major resistance for the market is at $16.80 level and strong support is placed at $16.40 level. …Read More

WTI Crude Oil

The crude oil prices drifted lower during the yesterday’s session reaching $65.50 level as the market was a bit overextended. This level was minor resistance level in the past, so now it might offer some amount of support. The $63 level also the uptrend line below will be the major support level for the crude oil prices. Pullbacks in this market offer nice opportunity to enter this market until it is above the $63 level. …Read More

Natural Gas

The natural gas prices initially pulled back a little bit reaching the $2.72 level but got enough buyers to bounce higher reaching the $2.80 level. Any signs of exhaustion around this level will attract sellers into the market and break this market much lower. The next resistance level of this market is placed around $2.90 level and then $3 level which will act as a ceiling. …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.