Commodities Daily Forecast – August 28, 2018

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Published: Aug 28, 2018, 16:44 GMT+00:00

Gold The gold market continued to show signs of strength during the Monday's session as the gold prices bounced from the $1210 level, reaching towards the

Gold

The gold market continued to show signs of strength during the Monday’s session as the gold prices bounced from the $1210 level, reaching towards the $1220 level which is offering a minor resistance. A break above this level and $1225 level , will help the market to move higher towards the $1250 level. The longer term outlook of the market remains positive with $1200 level underneath is the floor of this market. …Read More

Silver

The silver market rallied during the yesterday’s session but is struggling to break above the $15 level, which is offering a strong resistance. Pullbacks in the market will continue to find plenty amount of support near the $14.75 level and will also attract buyers into the market. A break above $15 in the market will lead to prices going much higher towards the $16 level. …Read More

WTI Crude Oil

The crude prices continued sideways during the most part of the yesterday’s session as the $70 level above is offering too much resistance. The market is likely to get a pullback from here with a major support at the $68 level and then at $66 level. These short term pullbacks will continue to offer a nice buying opportunity and until it breaks above the $70 level, it will continue to consolidate between the $66 and $70 range. …Read More

Natural Gas

The Natural Gas prices further dipped lower during the yesterday’s session breaking the important $2.90 support level. The market has rolled over to the $2.88 level and it is likely that it will further roll over to the $2.78 level in the next several sessions. Given the reversal in momentum, short term rallies will continue to offer a nice selling opportunity. …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.