Commodities Daily Forecast – August 20, 2018

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Published: Aug 20, 2018, 10:48 UTC

Gold The gold prices were stable during the Friday's session traded with a slight positive momentum. The $1200 level above is a strong resistance point

Gold

The gold prices were stable during the Friday’s session traded with a slight positive momentum. The $1200 level above is a strong resistance point for the market and will take a significant momentum to break above. With USD gaining strength, the gold market is expected to trade under pressure with a support at $1140 level. …Read More

Silver

The silver market traded range bound during the Friday’s session repeatedly bouncing from the $14.60 level. The break below $15 level has been negative for the market and now it will require a significant momentum for the market to break above. The $14 level underneath is a strong support point for the market and market is likely to trade between the range of $14 and $15 level in the next few sessions. …Read More

WTI Crude Oil

The crude oil prices continue to find selling pressure as it failed to hold above the $65 level, which is one of its strong support levels. The crude market is concerned about the tensions between the US and China which will create an imbalance in the supply and demand scenarios. If the market breaks above the $66 level again, then $68 level will offer strong resistance. …Read More

Natural Gas

The Natural Gas market is facing significant pressure around the $3 level and pulled back from there in the Friday’s session. The market seems to consolidate between the $2.92 and $2.98 level and will continue to move in a back and forth movement. A break below $2.92 level will send the market eventually lower towards the $2.78 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.