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Commodities Daily Forecast – February 11, 2019

Colin First
Crude Oil daily chart, March 14, 2018
Container Cargo freight ship with working crane bridge in shipyard.

Gold

The gold prices were a bit positive during Friday’s session and have rallied higher to reach towards the $1315 level. Pullbacks will continue to attract buyers and break above $1325 level would probably send the pair towards the $1350 level over the long term period. The $1300 level underneath is strong support and will continue to be the floor of the market. …Read More

Silver

The silver prices rallied significantly during Friday’s session, managing to break above the $15.80 level. This is a very positive development for the market and would now try to break above the $16 level. Buying on dips will continue to be a nice strategy to play this market until unless it breaks below the $15 level in the long term. …Read More

WTI Crude Oil

The crude oil price traded sideways during the Friday’s session with $52.50 level offering a bit of support to the market. The weak sentiments around the USD should offer a bit of support to crude prices to go higher, however, the situation over the global demand still remains a question. A break above $55 level would be positive and would send the crude oil prices towards $60 level. …Read More

Natural Gas

The Natural Gas prices rallied a bit during the Friday’s session but is finding extremely difficult in breaking above. The $2.60 level around is a resistive zone and given the overall weakness in the counter, selling pressure will continue. The natural gas prices could reach down to the $2.50 level, which continues to be the massive support. …Read More

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