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Commodities Daily Forecast – August 24, 2017
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Gold The gold markets traded on a volatile note on Wednesday's trade moving back and forth. The whole attention of the market is towards speech of Jannet
Gold
The gold markets traded on a volatile note on Wednesday’s trade moving back and forth. The whole attention of the market is towards speech of Jannet Yellen on Friday, which will decide the course of the market. It is suggested to keep an eye on the movement of the dollar, which is also a major factor in the gold market. In the upside, the $1300 level will be the strong resistance zone and the market has rejected the price in the recent uptrend. …Read More
Silver
The silver market continues to hover around the important support level of $17 from the past couple of sessions. The market is expected to be difficult to trade and will be very range bound until Friday, as markets are waiting for comments from Janet Yellen on the direction of the Federal Reserve from where the movement will come into the market. …Read More
WTI Crude Oil
Initially, the crude prices were moving in the narrow range but shot higher using the $47.50 as a key support level. The market is going towards the $49 as the next target, but given the noise in the market, it will have enough resistance to the upper level and will find sellers to drive the market down. In long term, the market will be seen consolidating around the $46.50 level. …Read More
Natural Gas
The Natural Gas price fell during the day on Wednesday, as we witness the selling pressure from the $3 level it touched on Tuesday. The market is going to see continuous selling pressure, given the weak fundamentals of the market. The first target for the market is $2.85 and $2.75 underneath 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.
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