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Commodities Daily Forecast – August 27, 2018
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Gold The gold prices rallied significantly during the Friday's session reaching towards the $1225 level, indicating a bit of recovery in the market from
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Gold
The gold prices rallied significantly during the Friday’s session reaching towards the $1225 level, indicating a bit of recovery in the market from bearish sentiment. Soft USD and break above the $1210 level, helped the market to rally and it is expected that the market has completed the bottoming pattern and should continue to go higher from here. In case of downtrend, the $1200 level underneath continues to offer strong support to market. …Read More
Silver
The silver prices rallied significantly during the Friday’s session reaching the important $14.80 level, which is definitely a positive sign for the market. If the market reclaims the $15.10 level in next few sessions, it will be extremely bullish and will attract more buyers into the market. With softness in USD and strength in other major currencies, the silver prices will continue to trade with a positive proclivity. …Read More
WTI Crude Oil
The market continued to show signs of strength as the crude prices in the Friday’s session broke above the $69 level but pulled back slightly. The level above from here is massively resistive and will be difficult for the market to cross above. If the market clears above the $70 and $71 level, then it might go towards the $75 level next. …Read More
Natural Gas
The Natural Gas prices fallen a bit during the Friday’s session reaching down towards the $2.92 level. The $2.97 level above is offering strong resistance and has got extremely difficult for the market to cross above in absence of strong fundamentals. The market is likely to pullback from here with next major support is at $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.
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