Commodities Daily Forecast – February 15, 2018

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Published: Feb 15, 2018, 07:59 UTC

Gold The gold market continued to trade volatile during the Wednesday's session as it exploded higher towards the $1350 level. If the market breaks above

Gold

The gold market continued to trade volatile during the Wednesday’s session as it exploded higher towards the $1350 level. If the market breaks above this level, then it could reach much higher towards the $1400 level and above which could be a long-term buy and hold type position in the market. The $1325 level is going to act as a floor of this market. The anti-US dollar sentiment is supporting this market to go higher. …Read More

Silver

The silver prices moved higher during the Wednesday’s session reaching towards $17 level as the US dollar resumed its downtrend. This brings plenty of money into the precious metal counters and could eventually send the silver prices towards the $17.50 level. Underneath, the $16 level is going to be the floor of this market and on the higher side, every $0.50 level will provide a significant barrier. Pullback in this market will be an excellent opportunity to buy this market. …Read More

WTI Crude Oil

The crude oil prices are showing signs of stability and also able give a small bullish move at the end of the session. Eventually this market will find sellers if it move higher again and also the $60 level is going attract a lot of attention. In the long term, the market is going to reach down towards the $55 level and below. Oversupply in the market remains a concern as Americans have stepped up their crude production to meet domestic demand. …Read More

Natural Gas

The natural gas market went sideways during the yesterday’s session as it continued its overall bearish market sentiment. The market is now trading just above the $2.65 level and a break could result in the market going further lower towards the $2.50 level. The $3 level is going to be massively resistive and also psychologically important. This market could witness some buyers picking up value from the lower levels. …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.