Gold The gold prices fell significantly during the Tuesday's session reaching the $1325 level after a statement from Fed Chairman Jerome Powell,
The gold prices fell significantly during the Tuesday’s session reaching the $1325 level after a statement from Fed Chairman Jerome Powell, suggesting to continue with interest rate hike which will give an upside pressure to the US Dollar. The floor of this market is at $1300 level underneath and that will attract a lot of buyers into this market. The market will continue to be noisy and will have to go beyond $1350 level to continue moving higher. A break above $1400 level will be a buy and hold scenario in this market. …Read More
The silver prices initially went sideways during the Tuesday’s session hovering just around the $16.60 level but after Fed Chairman’s statement on rate hike came, the silver crashed below the $16.50 level. Given enough time, the market will be rebound as the development on rate hike is expected. In the charts, $16 and $16.25 level is showing as an important support level which is believed to attract buyers into this market. …Read More
The crude oil prices drifted during the Tuesday’s session losing over 1 percent after the previous uptrend life offered resistance, especially near the $64 level. The market has lost most of its bullish momentum and given the time it will continue to go lower possibly reaching $60 level in the short term. Weak fundamentals in terms of oversupply will continue to be an issue for this market. …Read More
The natural gas prices initially went sideways during the Tuesday’s session but started to fall reaching the $2.65 level. In the short term, this market could witness some amount of upside pressure but will continue to find sellers from higher levels. The $3 level is going to be the upper limit for this market and also in the long-term, it will continue to remain bearish due to factors like lack of demand and oversupply in the market. …Read More
Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.