Commodities Daily Forecast – February 13, 2019

By:

Published: Feb 13, 2019, 10:11 UTC

Gold The gold prices pulled back initially during Tuesday's session but got enough support underneath to continue rally higher. The $1325 level higher

Gold

The gold prices pulled back initially during Tuesday’s session but got enough support underneath to continue rally higher. The $1325 level higher would continue to be extremely resistive, but pullbacks will continue to be a nice buying opportunity. If the gold breaks the support at $1300 level, then probably it will go down towards the $1275 level. …Read More

Silver

The silver prices rallied a bit during yesterday’s session, reaching towards the $15.80 level. The market will continue to witness volatility and a break above $16 level would extremely bullish and would send the silver prices towards $17 level in the long term. Underneath, the $15.50 level is extremely supportive and will continue to attract buyers around. …Read More

WTI Crude Oil

The crude oil market was bit volatile during yesterday’s session, moving around the $53 level. The market is likely to consolidate between the $50 and $55 level and further the 20 Day EMA is turning lower, which is a bit negative for the market. A break down below $50 level, would send the crude oil prices towards the $45 level. …Read More

Natural Gas

The Natural Gas counter was bit volatile during yesterday’s session, trading between the $2.60 and $2.75 level. If it can break above the $2.75 level, then it can witness buying up to the $2.90 level, but the momentum is lacking in the market. If it breaks below the $2.60 level, then the next major support for the market is at $2.50 level. Rallies will continue to attract sellers in the market. …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.