Gold
The gold prices picked momentum in the Friday’s session as it rallied towards the $1275 level as due to the Bitcoin crash. More recently, the people have started to shift to Bitcoin from gold because of the huge returns. If the USD weakens then the gold prices are going to rise further. The next resistance for the market will be at $1285 level and then at $1290 level. Buying dips in this market will be a good opportunity to play this market right. If the price breaks below the $1260 level, then a significant bearish pressure will plague this market. …Read More
Silver
The silver prices rallied during the Friday’s session reaching towards the $16.40 level. Off-lately all the precious metal counters are witnessing a rise in value due to the Bitcoin crash. The market is likely to move towards the long-term top of the overall consolidation area, probably the $18.50 level. The $16 level is believed to be the floor of this market. The movement in dollar index will also play a major role in the prices of silver. …Read More
WTI Crude Oil
The crude prices initially dipped lower during the Friday’s session but then found enough support at the one-hour trend line on the chart to continue higher. The market is in uptrend channel and which drive this market higher. The $60 level is going to be massively resistive with a support at $57.75 level. Volatility in the market will be a major issue in this market due to uncertain production issues. …Read More
Natural Gas
The natural gas prices were extremely volatile during the Friday’s session initially dipped lower but found support at the $2.60 level to continue higher. The market will find difficulty in crossing the $2.75 level above as it is massively resistive. If the market breaks below the $2.50 level then it will be very negative for the market. The natural gas market continues to struggle with the oversupply issues. Any upside rally will attract sellers into the market. …Read More