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Commodities Daily Forecast – February 1, 2019
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Gold The gold prices rallied initially during the Thursday's session and broke above the $1325 level, but later in the day, it pulled back a bit. The idea
Gold
The gold prices rallied initially during the Thursday’s session and broke above the $1325 level, but later in the day, it pulled back a bit. The idea of buying short term pullbacks will continue to be the way forward for traders. In today’s session, the gold prices will remain a bit choppy due to US job numbers which will be released later today. …Read More
Silver
The silver prices rallied higher during yesterday’s session reaching towards the $16 level, which is a crucial resistance level for the market. With all precious metals continuing to gain value, the silver price will also continue to move higher and a break above $16 level would send the market towards the $18 level next in the long term. …Read More
WTI Crude Oil
The crude oil prices have broken above the resistive $55 level in the yesterday’s session but has also pulled back from there. The job numbers coming out today will have an influence over the trade session, and if the numbers don’t meet the expectations, then the crude prices can break down to the $50 level. …Read More
Natural Gas
The Natural Gas prices continue to move back and forth during yesterday’s session, testing the $2.75 level as support. The market will continue to be bearish and if it breaks down below this level, then it can reach towards the $2.50 level. Rallies will continue to be a nice selling opportunity as the market is lacking sufficient momentum to break higher. …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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