Commodities Daily Forecast – February 26, 2018

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Published: Feb 26, 2018, 08:19 UTC

Gold The gold prices initially rallied but the $1350 level continued to offer resistance which pulled the prices a bit lower during the Friday's session.

Gold

The gold prices initially rallied but the $1350 level continued to offer resistance which pulled the prices a bit lower during the Friday’s session. With anti-US Dollar sentiment and treasuries selling off in America, that could drive the price of gold higher and breakout above $1350 level will be an important one for the market. The long-term outlook for the market remains positive will targets of $1800 level and above. …Read More

Silver

The silver prices eased a little during the Friday’s session after initially trying to reach towards the $16.60 level. The market is likely to bounce in general as it is building a larger base on the weekly chart. If this market breaks above the $16.75 level, the market should continue to go towards the $17 level next. Any signs of resistance will attract sellers which will pull the market lower towards its immediate support level. …Read More

WTI Crude Oil

The crude oil rallied during the Friday’s session as the supplies from Libyan market has hampered a bit. However, the bullish sentiment in the market is not very strong and also reaching the previous uptrend line which is a bit of resistive that will force the price down. Given enough time, the market will find selling pressure which will pull the prices down towards $60 level. …Read More

Natural Gas

The natural gas prices initially fell lower reaching down towards the $2.63 level but got enough support to bounce back higher.The market has been in a bearish phase for quite some time and any rally will be a good sign. The $3 level is a massively resistive level and will attract a lot of sellers in the market. Ultimately this market will crack down if it receives the first signs of resistance in the higher 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.