Commodities Daily Forecast – February 15, 2019

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Published: Feb 15, 2019, 09:29 UTC

Gold The weak economic numbers from the US has helped gold market to turn around and rally a bit. The 20 Day EMA underneath and a major uptrend line which

Commodities Daily Forecast – February 15, 2019

Gold

The weak economic numbers from the US has helped gold market to turn around and rally a bit. The 20 Day EMA underneath and a major uptrend line which is running down just below is offering strong support to the market. Going forward, the market will find enough buyers around to continue moving higher and break above $1325 level would be extremely positive. …Read More

Silver

The silver prices started Thursday’s session bit negative as it gapped a bit lower, testing the $15.50 level for support. The market has now recovered a bit and is likely to attract buyers around due to favourable market dynamics and weak USD. Both 20 and 50 Day EMA slope underneath are offering strong support and is likely to support the silver prices move higher. …Read More

WTI Crude Oil

The crude oil prices continue to pick momentum and in the Thursday’s session, it reached towards the important $55 level. The market is likely to go back and forth around this region and given enough time, it will eventually break above to move towards the $60 level. …Read More

Natural Gas

The Natural Gas traded sideways whole during yesterday’s session with a negative bias. The market has been sold off drastically in the last several sessions and $2.50 level underneath is now offering strong support to the market. However, the market will continue to witness selling on every rally as due to the extremely weak fundamental and technical structure. …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.