Commodities Daily Forecast – February 21, 2019

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Published: Feb 21, 2019, 10:16 UTC

Gold The gold prices pulled back a bit during Wednesday's session as the $1350 level above is offered a bit of resistance. The gold market is likely to

Crude Oil weekly chart, January 28, 2019

Gold

The gold prices pulled back a bit during Wednesday’s session as the $1350 level above is offered a bit of resistance. The gold market is likely to struggle a bit around here to break higher but has strong multiple support underneath, which will provide enough momentum to move higher. At present, the market is awaiting the Fed’s meeting minute which will provide clarity on the Fed’s stance of future rate hikes. …Read More

Silver

The silver prices continued to experience a strong bullish sentiment and mostly hovered above the $16 level in yesterday’s session. The break above the $16 level has been extremely positive for the market and will continue to gain momentum in order to move higher. The $15.80 level underneath is massive support and pullbacks will continue to be a nice buying opportunity. …Read More

WTI Crude Oil

The crude oil prices moved a bit higher during yesterday’s session but is witnessing a strong resistance at the $57.50 level. The market is expected to continue choppy, and $55 level underneath should offer strong support to the market. The market is expected to continue gaining momentum, and if it breaks above the $58.50 level, it will attract enough buyers into the market. …Read More

Natural Gas

The Natural Gas prices traded in a back and forth momentum, as the $2.60 level is attracting a lot of attention. Overall, the momentum of the market will continue to bearish and rally in the market will continue to offer a nice selling opportunity. The market needs to break above $2.75 level, in order to clear above the negative sentiment. …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.