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Commodities Daily Forecast – August 29, 2018
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Gold The gold market continued with the bullish momentum in the Tuesday's session also as it coninued to grind higher towards the $1225 level. This level
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Gold
The gold market continued with the bullish momentum in the Tuesday’s session also as it coninued to grind higher towards the $1225 level. This level is one of the important resistance level, and if it breaks above this point then it can lead to gold prices going higher towards the $1250 level. The $1215, $1210 and $1200 level underneath continues to offer strong support to the gold prices. …Read More
Silver
The silver market bit difficult to trade in the yesterday’s session as it continued to be choppy. Initially, the silver prices moved higher but then fell lower as the $15 level above continued to offer strong resistance. If the silver prices breaks above this level, then it will attract buyers into the market to take the silver prices much higher, probably towards the $15.50 level. …Read More
WTI Crude Oil
The crude prices was mostly sideways during the yesterday’s session struggling to break above the $70 level and is also showing downward inclination. It has a strong support around the $68.50 level and if it breaks from here, then next important support will be at $66 level. The market is expected to find plenty of buyers around the region, and will be a buy on dips situation. …Read More
Natural Gas
The Natural Gas prices further dipped lower during the yesterday’s session reaching towards the $2.82 level as oversupply continues to be a major issue in the market. The $2.70 level underneath is the bottom of the consolidation area currently and is expected that the market will keep itself above this level. Short-term rallies will continue to be a nice selling opportunity in the market. …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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