Commodities Daily Forecast – February 27, 2019

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Published: Feb 27, 2019, 12:34 UTC

Gold The gold prices traded sideways during Tuesday's session, as it hanged just above the supportive $1325 level. The gold market will continue to

Gold

The gold prices traded sideways during Tuesday’s session, as it hanged just above the supportive $1325 level. The gold market will continue to attract a lot of attention given the geopolitical concerns and weak global macros which will help it to reach towards the $1350 level. The market has strong multiple support underneath with $1300 level is acting as the floor and will attract a lot of buyers around. …Read More

Silver

The silver prices pulled back a bit in yesterday’s session as the market encountered a bit of issue around the $16 level. Overall, the sentiment of the market continues to be bullish and pullbacks like such will continue to offer a nice buying opportunity. In the long term, the silver prices will try to reach towards the $17 level above and support in the market extends down to the $15 level. …Read More

WTI Crude Oil

The crude oil prices continued to trade weak during yesterday’s session, but the $55 level underneath is offering a bit of support. The 200 Day EMA above will continue to be resistive and extends up to the $60 level. The 50 Day EMA slope underneath will continue to be extremely supportive and is expected to hover around this region. …Read More

Natural Gas

The Natural Gas prices traded mostly sideways as the market is lacking momentum to continue further higher. Fundamentally, the market continues to be weak and is expected to get sold-off on every rally. The $2.90 level and above is massively resistive and will be extremely difficult for the market to break above. …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.