Commodities Daily Forecast – January 15, 2018

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Published: Jan 15, 2018, 06:13 UTC

Gold The gold prices broke out upside during the Friday's session but then rolled over to test the $1325 level for support. The market is expected to

Commodities Daily Forecast – January 15, 2018

Gold

The gold prices broke out upside during the Friday’s session but then rolled over to test the $1325 level for support. The market is expected to continue to go higher towards the $1350 level, which has been important in the past. The continued underperformance of dollar will help this market to go higher and any dips will offer to pick up gold on the cheap. …Read More

Silver

The silver market continues to be noisy during the Friday’s session but with the weak dollar and overall bullish sentiments in the precious metal counters, the silver prices went higher. The next target for the market will be around at the $17.25 level and if market successfully clears above then next it will reach towards the $17.50 level. Buying into short-term dips will be the right strategy to play this market and the longer term target of the market remains at the $18.50 level. …Read More

WTI Crude Oil

The crude oil prices initially went sideways during the Friday’s session but then exploded higher to significantly reach the $64 level and above. The market is probably trying to reach the $65 level and likely to see that the level is tested. The market has a strong support at the $63.25 level and going forward the movement will be back and forth with an upward slant. The weakness in the US dollar will also help the crude prices to trade with an upward bias. …Read More

Natural Gas

The natural gas prices were initially sideways but then started to move higher towards the $3.10 level, which has been an area of resistance. Until the market clears above the $3.20 level, this market will continue to find sellers from the top and also the current demand and supply scenario is not supporting this market to go higher. If the prices drop below the $3 level, the market will eventually see a breakdown of prices reaching the $2.75 level. …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.