Commodities Daily Forecast – January 12, 2018

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Published: Jan 12, 2018, 10:35 UTC

Gold The gold prices initially went sideways during the Thursday's session but then bounced higher slightly to reach towards the $1325 level. The market

Commodities Daily Forecast – January 12, 2018

Gold

The gold prices initially went sideways during the Thursday’s session but then bounced higher slightly to reach towards the $1325 level. The market is expected to trade with a bullish pressure in the days to come with a target of $1350 level and above. The weak dollar is continuing to support this market to go higher. Pullbacks offer a good buying opportunity in the market as $1300 level underneath is massively supportive and also the floor of this market. …Read More

Silver

The silver prices were very silent during the Thursday’s session as it hovered around the $17 level. This level has been psychologically important level and if it breaks above it, then it will reach the $17.25 level. The market will find enough support near the $16.85 level if it breaks down, possibly reaching towards the $16.50 level. With support from gold market and the weak dollar, the silver prices are likely to maintain a bullish trend and will eventually break above the $17.25 level and $17.50 level eventually. …Read More

WTI Crude Oil

The crude oil prices continued to rally during the Thursday’s session as it reached towards the $63.50 level. The market from here is expected to pull back a little towards the $62 level as it is bit overextended now. Going ahead, the market will find enough buying pressure which will take the market higher towards the $65 level in the short term. …Read More

Natural Gas

The natural gas prices rallied significantly during the Thursday’s session, breaking above the $3 level. The market is expected to face significant resistance extending towards the $3.10 level. This market will be very noisy and difficult to trade as selling pressure will eventually be present. If the market succeeds to break above the $3,20 level then it would be a very bullish sign. …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.