Commodities Daily Forecast – April 19, 2018

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Published: Apr 19, 2018, 08:27 UTC

Gold The gold prices broke out above the $1350 level during the Wednesday's session but later in the day pulled back slightly to find support underneath

Gold

The gold prices broke out above the $1350 level during the Wednesday’s session but later in the day pulled back slightly to find support underneath around the level. Given enough time this market will continue to move higher with initial resistance at the $1360 level. Pullbacks will offer a good opportunity to enter this market with important supports at $1340 level and $1325 level. …Read More

Silver

The silver market was very bullish during the Wednesday’s session as it broke above the $17 level without much effort. Now the market is likely to move higher possibly reaching towards the $17.25 level. If the market rallies too fast then this market will turn overbought in the short term. The $17 level will act as an immediate support for the market. …Read More

WTI Crude Oil

The crude oil market was noisy all throughout the session trying to go above the $68 level. The market is receiving a lot of support underneath and will continue to move higher using the support level. Once it breaks above the $68 level then next target will be at $70 level which will be difficult to break above. …Read More

Natural Gas

The natural gas was extremely noisy during the yesterday’s session as it pulled back towards the $2.78 level after moving higher. The market should continue to be noisy as because of lack of positive support both technically and fundamentally. The $2.80 level is a major resistance and any signs of exhaustion in the market will bring back sellers. …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.