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Commodities Daily Forecast – August 23, 2018
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Gold The gold prices initially rallied slightly higher during the Wednesday's session reaching as high as $1208 level but pulled back later in the day. If
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Gold
The gold prices initially rallied slightly higher during the Wednesday’s session reaching as high as $1208 level but pulled back later in the day. If the market holds above the $1195 level, then it will continue to attract buyers but a break below this level will send the market down towards the $1190 and $1180 level. A break above $1208 level will be very positive and send the market towards the $1225 level. …Read More
Silver
The silver prices have been mostly sideways in the yesterday’s session as the $14.80 level is acting as a bit of an anchor for price. If silver prices break above the $15 level, which is a strong resistance level, then it will attract enough buyers into the market and will send the price higher towards the $15.25 and then $15.50 level. But at this point, due to uncertainties in the market, there will be more selling pressure than buying. …Read More
WTI Crude Oil
The crude oil prices rallied significantly during the yesterday’s session breaking above the $67 level. The market has extended a rally despite the not so favourable situation and because of this, crude prices are likely to move further higher possibly towards the $69 level. The $66 level underneath will continue to offer support to the market. …Read More
Natural Gas
The Natural Gas prices initially tried to break above the $3 level, but failed there and rolled over significantly. This is not a surprise in the market as the area is at the top of the larger consolidation. If the market breaks below the $2.90 level, then it will attract enough sellers and will rapidly break towards the $2.76 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.
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