Commodities Daily Forecast – April 24, 2018

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Published: Apr 24, 2018, 07:39 UTC

Gold The gold prices gapped lower during the Monday's session and continued to fall towards the $1320 level. The market is expected to trade with a

Gold

The gold prices gapped lower during the Monday’s session and continued to fall towards the $1320 level. The market is expected to trade with a downward pressure in next several session as the USD has been gaining strength which will work against the dollar. The $1300 level will be the floor of this market and will see a lot of buying activities in that region. …Read More

Silver

The silver fell over 1 percent during the Monday’s session slicing through the $17 level reaching $16.80 level. The area around is going to offer massive support and given enough time, this market will attract a lot of buyers. Dips like these will continue to be nice buying opportunity with $16.50 level will be the floor of this market. …Read More

WTI Crude Oil

The crude oil prices struggled a bit to move higher during the Monday’s session and sliced through the $67 level. The market has a major support at the $66 level and also the uptrend line underneath is more supportive. The market will continue to finds in dips and also the USD has started to show strength which will make oil prices to go a bit slow. …Read More

Natural Gas

The natural gas prices were initially sideways during the Monday’s session then started to move lower reaching towards $2.70 level which is offering a bit of support. A breakdown below $2.70 level will send this market further lower, possibly towards the $2.60 level. The rallies in the market should continue to attract sellers and is the right strategy to play this market at present. …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.