Commodities Daily Forecast – August 30, 2018

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Published: Aug 30, 2018, 10:16 UTC

Gold After the fall in the Tuesday's session, the gold market was a little bit positive with prices holding above the $1210 level which is a crucial

Gold

After the fall in the Tuesday’s session, the gold market was a little bit positive with prices holding above the $1210 level which is a crucial support level. Given enough time, it is likely that the market will continue to move higher from here, possibly to move towards the $1250 level. If it turns around from here, the $1200 and $1190 level underneath will continue to offer strong support to the gold market. …Read More

Silver

The silver prices were volatile during the yesterday’s session, as it continued to bounce around the $14.60 and $14.70 level. If it breaks above the $14.80 level, then it will easily reach towards the $15 level again. The silver market is a bit inclined towards the EUR/USD pair, and as it has started to recover, the silver prices are likely to recover from here. The $14.50 level underneath continues to be a major support level. …Read More

WTI Crude Oil

The crude price yesterday traded with a positive inclination as it approached towards the $69 level. But the level above continues to be a bit of concern for the market as it has turned a major resistance zone. If the market pushes towards the $70 level, then it can easily reach the $71 level. …Read More

Natural Gas

The Natural Gas initially rallied during the yesterday’s session but due to strong selling pressure, it rolled over to give back all the gains. The market will find it difficult to break above the $2.8750 level in the short term period and once it breaks below the $2.8225 level, then it will open the door towards the $2.78 level underneath. …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.