Commodities Daily Forecast – February 13, 2018

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Published: Feb 13, 2018, 08:03 UTC

Gold The gold prices are getting a bit of bullish pressure from the lower level after initially falling on Monday. The immediate resistance is at $1325

Commodities Daily Forecast – February 13, 2018

Gold

The gold prices are getting a bit of bullish pressure from the lower level after initially falling on Monday. The immediate resistance is at $1325 level and a break above this level could send the market higher towards the $1350 level, the next major resistance level. Pullbacks continue to offer buying opportunities as the US dollar is starting to move in the negative side of territory which will be a bullish factor for the gold market. …Read More

Silver

As the silver prices have rolled over significantly over the last couple of weeks, the market is looking to consolidate and is forming a supportive candle near the $16.25 level. Also, the dollar index losing much of the upside steam and will help to push this market higher towards the $17 level. Alternatively, If the market breaks further from here, then $16 level will be massively supportive. …Read More

WTI Crude Oil

The crude oil prices went higher significantly during the Monday’s session but struggled near the $61 level and pulled a little lower. The market has turned bearish as it broke below the general uptrend line last week. Next several sessions, the market is likely to witness some amount of pressure from the top which could send the prices reaching towards the $58 level and much lower. Oversupply of crude will continue which will keep the prices under pressure. …Read More

Natural Gas

The natural gas prices continued to drift lower during the Monday’s session further reaching towards the $2.65 level. The market is lagging any bullish pressure which can send the prices higher and the $2.75 level is going to be strongly resistive. Any rally in the market is going to be sold-off without any type of reaction. Weak fundamentals is also driving this market lower. …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.