Commodities Daily Forecast – February 16, 2018

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Published: Feb 16, 2018, 08:52 UTC

Gold The gold prices went sideways during most part of session during the Thursday's session as it tests the $1350 level of support. Overall the anti-US

Commodities Daily Forecast – February 16, 2018

Gold

The gold prices went sideways during most part of session during the Thursday’s session as it tests the $1350 level of support. Overall the anti-US dollar sentiment will continue to support the market to go higher and also the market will be noisy between here and $1400 level. If it crosses above $1400 level then it will send this market much higher and in the period of next several months it can reach $1800 level. Buying on dips will continue to be a nice idea for the market. …Read More

Silver

The silver prices initially moved higher during the yesterday’s session but then pulled back. The volumes in the market have started to pick up indicating a bullish sentiment in the market. Longer term, it is believed that the market will continue noisily as it tries to break above the $17 level. Underneath, the $16.50 level is going to be the support of this market and will attract a lot of buyers into this market. …Read More

WTI Crude Oil

The crude oil prices bounced higher during the yesterday’s session as it found support near the psychologically important $60 level. The general uptrend line continues to offer resistance and until this market breaks above the $62 level, this market will be bearish. Lack of demand and increased supply from the Americans wells will keep this market under pressure. Sell on rallies will be the right strategy to play this market. …Read More

Natural Gas

The natural gas prices continued its negative movement during the yesterday’s session as it failed to break higher towards the $2.75 level. The market could reach towards its next massive support level at $2.5 level if it fails to get any bullish pressure. With demand falling, this market is likely to consolidate between the upper ceiling at $3 level and lower at $2.50 level. …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.