Commodities Daily Forecast – August 23, 2017

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Updated: Aug 23, 2017, 08:04 UTC

Gold The gold markets fell on the Tuesday's trade but were more stable during the session. The market looks more negative, as the fears have subsided. The

Gold

The gold markets fell on the Tuesday’s trade but were more stable during the session. The market looks more negative, as the fears have subsided. The next trigger in the market will be probably come from Jackson Hole and Janet Yellen’s rate hike policy. The dollar will continue to affect the and the market is expected to have a rather quiet session with support at $1265 level and resistance at $1300 level. …Read More

Silver

The silver market was very choppy during the Tuesday’s session, with $17 providing a bit of interest in the market. Going by the current situation, there is very little to offer in this market. The trigger point will be speeches from Jackson Hole this week. And, in the outcome of Jackson Hole meeting, if dollar reacts negative, then we will see upside in the silver prices and vice versa. …Read More

WTI Crude Oil

The crude prices moved in a narrow range during the day on Tuesday. Initially, it fell but found enough support from the lower level to move a bit higher. The market will continue to be volatile and announcements coming out today on the Crude Oil Inventories will add much to it. It’s a very difficult market to be in and should wait for any clear trend. …Read More

Natural Gas

The natural gas prices rose towards the $3 level initially but found tough resistance to move above and in the process fell towards $2.90 level on yesterday’s session. Any rally in this market will be a sell type situations. Overall, the market is in a downtrend with $2.85 as it first target and lower eventually. …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.