Commodities Daily Forecast – February 19, 2018

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Published: Feb 19, 2018, 08:33 UTC

Gold The gold prices pulled back slightly during the Friday's session reaching towards the $1350 level which is supportive in the short term charts. There

Gold

The gold prices pulled back slightly during the Friday’s session reaching towards the $1350 level which is supportive in the short term charts. There is plenty of support underneath around the $1335 and $1325, in case the gold prices break down. Pullbacks in the market continue to offer value to pick gold in cheap. A break above $1400 level is going to be a buy and hold scenario in the market. …Read More

Silver

The silver prices consolidated in the Friday’s session as it got a bit of resistance on the higher side. In the short term, Silver is going to be a bit difficult to trade and until it breaks above the $17 level and $17.50 level which is significantly resistive. The $16.50 level and $16 level underneath continue to offer massive support around the area. …Read More

WTI Crude Oil

The crude oil prices rallied slightly during the day on Friday as it tried to recover from the massive sell-off in the past couple of day which hammered the price down below the $60 level. Going forward, the $62 level is going to offer a bit of resistance but also will attract sellers around that zone. Increasing supply from US wells is still a cause of concern for this market. …Read More

Natural Gas

The natural gas prices continued to drift lower during the Friday’s session as it is unwinding the overall bullish trade that happened at the end of January. There is a lot of bearish pressure in the market as the demand has fallen and the natural gas prices are likely to reach towards the $2.50 level in next several session. The $2.85 level and $3 level is going to be a resistance above and is unlikely to be broken in the near future. …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.