Commodities Daily Forecast – April 20, 2018

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Published: Apr 20, 2018, 09:54 UTC

Gold The gold prices came down slightly lower during the Thursday's session reaching $1355 level. Overall the momentum of the market remains bullish and

Gold

The gold prices came down slightly lower during the Thursday’s session reaching $1355 level. Overall the momentum of the market remains bullish and is likely to continue moving higher. Once it breaks above the $1360 level then it is likely to move towards the $1400 level. Pullbacks offer a great opportunity to enter this market as the market has enough strong support point underneath. …Read More

Silver

The silver market was volatile during the yesterday’s session initially trying to move higher but due to noise above it pulled back slightly lower towards the $17.10 level. The market has already tested the $17.30 level and given enough time, the price should reach the $17.50 level. The $17 level underneath will be the floor of this market and is unlikely to be broken easily. …Read More

WTI Crude Oil

The crude oil market was choppy during the Thursday’s session bouncing around the $69 level with $68 level continue to offer strong support underneath. Going above the $70 level will be difficult for this market and once it breaks above then more buyers will get attracted. …Read More

Natural Gas

The natural gas market witnessed some big moves because of bullish inventory numbers during the yesterday’s session. The market initially tried to rally above the $2.78 level but got enough resistance to fall back lower reaching towards the $2.68 level. The market now is likely to be in the downward momentum and should reach $2.60 level which is its important support extending to the $2.50 level underneath. …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.