Commodities Daily Forecast – April 9, 2018

By:

Published: Apr 9, 2018, 10:04 GMT+00:00

Gold The gold prices initially fell during the Friday's session but got enough support around the $1320 level to bounce back. The gold will continue to

Gold

The gold prices initially fell during the Friday’s session but got enough support around the $1320 level to bounce back. The gold will continue to find buyers in every dip as it offers value. Moving forward, the market is likely to move in a range bound manner between $1300 and $1350 level and if it manages to break above the higher side of the range, then $1375 will be next target. …Read More

Silver

The silver prices fell during the Friday’s session but turned around to its favour late in the day as it formed a hammer like a candle in the hourly chart which is a bullish sign. The $16.75 level offers a significant resistance and will be a difficult one to break above. The $16.25 level underneath is the strong support zone for the silver and is unlikely to be broken. …Read More

WTI Crude Oil

The crude oil prices went a little lower during the Friday’s session as the job numbers from the US were lower than anticipated. The market continues to be in an uptrend, and if it breaks above the $64 level, then $66 level will be the next target zone for this market. The market in this region will be very noisy and difficult to trade. …Read More

Natural Gas

The natural gas prices chopped sideways during the Friday’s session hovering around the $2.70 level which is an important level. If it manages to stay above this level for quite some time, then it will continue to move higher towards the $2.8 and $2.93 level which is a bit of resistance. The $2.60 level underneath continues to offer strong support to this market extending down to the $2.50 level. …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.