Commodities Daily Forecast – February 14, 2018

By:

Published: Feb 14, 2018, 08:22 UTC

Gold The gold prices initially rallied towards the $1330 level during the Tuesday's session but pulled back to retest the $1325 for support. The buyers

Gold

The gold prices initially rallied towards the $1330 level during the Tuesday’s session but pulled back to retest the $1325 for support. The buyers are expected to jump into the gold market from here as the US dollar is starting to get sold off. If the gold gives a break above the $1350 level, then it can move much higher towards the $1400 level. …Read More

Silver

The silver prices moved higher during the yesterday’s session but went a bit lower to test support underneath. The market is likely to move upward from here possibly reaching towards the $17 level and $17.50 level next. The fall in the dollar index will support the prices of all precious metals to go higher. Yesterday’s move signifies the market is out of bearish sentiment and will move higher with major support at $16 level. …Read More

WTI Crude Oil

The crude oil prices rolled off during the Tuesday’s session as the negativity in the counter continued due to increase in supply from American oil rigs, which is keeping this market under pressure. The bullish sentiment in the crude market is essentially over for a time being and the next target for the crude price will be around $55 level. …Read More

Natural Gas

The natural gas market got some bullish pressure during the day on Tuesday as it went higher by 2 percent. Because the market is quite a bit oversold, the prices could go higher from here perhaps reaching towards the $3 or $3.10 level which is massively resistive and also could attract sellers at those level. If the market loses the positive buildup, then it could move much lower towards the $2.50 level which is the floor of this 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.