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Commodities Daily Forecast – February 27, 2018

By:
Colin First
Published: Feb 27, 2018, 07:25 UTC

Gold The gold prices initially rallied reaching towards the $1340 level on Monday's session but found enough resistance and rolled over towards the $1330

Commodities Daily Forecast – February 27, 2018

Gold

The gold prices initially rallied reaching towards the $1340 level on Monday’s session but found enough resistance and rolled over towards the $1330 level. The market is currently hovering around its major support area of $1325 level and given enough time buyers will enter this market to take it higher. If the market crosses the $1350 level above which is an area of major interest due to the large, round, psychologically significant number then it will be a very positive development and will send the prices towards $1400 level. …Read More

Silver

The silver prices initially gapped lower at the Monday’s session but rallied significantly from there to reach towards the $16.75 level but pulled back towards the $16.50 level. Eventually, this market will find enough number of buyers to take the prices higher and occasional pullbacks will offer significant value in the market. The next target for the market is at $17 level which will offer a large, round, psychologically significant resistance and clearance of that will send the prices much higher. …Read More

WTI Crude Oil

The crude oil prices initially drifted lower on Monday’s session reaching towards the $63 level to turn around and bounce significantly. The previous general uptrend line around the $64 level is going to offer resistance and a break above can only send prices higher towards the $65 level. The market will continue to trade volatile because of the weak fundamentals and a break below $63 level send the crude prices down rapidly. …Read More

Natural Gas

The natural gas prices continued volatile during the yesterday’s session as initially rallied higher but got significant resistance to turn around and reach $2.65 level. Given the price movement of last few days, the market is likely to continue with the bullish trend and will try to reach towards the $2.75 level. A break above this level will send the market much higher towards the $3 level which will provide much interest to the traders. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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