Commodities Daily Forecast – January 10, 2018

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Published: Jan 10, 2018, 08:47 UTC

Gold The gold prices drifted lower during the yesterday's session as the market is expected to run out of steam to continue higher. There is a massive

Gold

The gold prices drifted lower during the yesterday’s session as the market is expected to run out of steam to continue higher. There is a massive support near the $1300 level and buyers are expected to enter the market from there. A break below $1300 level will be a little negative for the market. Buying gold in the short term pullbacks is what now preferred and a break above the $1325 level will send the market towards the $1350 level. …Read More

Silver

The silver prices were bit volatile during the yesterday’s session as it crossed the important $17 level underneath due to the strong dollar. The market is still expected to find some bullish pressure which will take the prices much higher towards the $17.25 level. On the lower side. the $16.80 level is the strong support zone for the silver. Tracking the movement of major currency pair and dollar movement will help to guess the general trend in the silver market. …Read More

WTI Crude Oil

The crude oil prices continue to find upside momentum and have broken above the $62.50 level in yesterday’s session. Now the market is likely to move towards the $63 level next and more importantly towards the $65 level, which is also a massive resistance zone. Volatility in the counter will be the mainstay of the market as production issues between OPEC and non-OPEC states will keep the market volatile. And, also the shale gas production fro the US will affect the market significantly. …Read More

Natural Gas

The natural gas prices initially tried to rally but found enough resistance to go higher and turned around to fall lower. The market is experiencing support near the $2.82 level which is not a much significant area on the chart. The market is now in the most significant time of the year as cold temperatures push the demand high that results in a higher price but situation are bit different this year. The $2.75 level underneath is going to be the strong support zone for the market with rallies as an excellent selling opportunity. …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.