Commodities Daily Forecast – August 14, 2018

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Published: Aug 14, 2018, 10:46 UTC

Gold The gold market sold-off significantly during the Monday's session breaking below the $1200 level which offered strong psychological support to the

Gold

The gold market sold-off significantly during the Monday’s session breaking below the $1200 level which offered strong psychological support to the market. The market is strongly impacted by the Turkish situation and relative strong dollar. The next significant support for the gold prices is at $1140 level and in order to turn around, it needs to break above the $1205 level. …Read More

Silver

The silver prices rolled over during the yesterday’s session as the overall forex and commodity market continues to look negative on the back of strong dollar and Turkey’s economic situation. The market will continue to trade choppy and $15 level underneath will offer strong support. …Read More

WTI Crude Oil

The crude oil prices drifted lower during the yesterday’s session reaching down to the $67 level as the strong dollar and Turkey’s situation haunt the market. The market is likely to continue volatile with a back and forth movement between the $67 and $70 level. If the crude prices break away from here, then it will be probably looking towards the $66 level, which is its next support level. …Read More

Natural Gas

The Natural Gas prices initially drifted lower during the yesterday’s session reaching down to $2.91 level but bounced higher from there as Americans started to pick the market. The $3 level continues to offer massive resistance and given enough time, it will start to roll over towards the $2.70 level which will offer a nice selling opportunity. …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.