Commodities Daily Forecast – January 15, 2019

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Published: Jan 15, 2019, 07:37 UTC

Gold The gold prices during Monday's session was bit stable and did not break out above. The market is highly influenced by the Dollar index which is

Gold

The gold prices during Monday’s session was bit stable and did not break out above. The market is highly influenced by the Dollar index which is continuing to be extremely choppy. Underneath, the $1280 level is massively supportive which extends down to the $1250 level. A breakout above $1300 level will be extraordinarily bullish and send the market towards $1400 level in the long term. …Read More

Silver

The silver prices were mostly stable during yesterday’s session, trading around the $15.60 level. The market is likely to try to build up enough momentum to continue moving higher and break above the $16 level. The $15.50 level underneath is a strong support point and break below could lead to market breaking towards the $15 level. …Read More

WTI Crude Oil

The crude oil prices traded weak during the Monday’s session, as it slid down towards the $50 level. The 200 Day EMA is offering resistance to the crude oil prices and if it breaks above this slope, then it can more buyers will start entering the market. If the crude oil prices break below the $50 level, then sellers will hammer the market down to the $45 level. …Read More

Natural Gas

The Natural Gas gapped higher at the open during yesterday’s session, breaking above the $3.50 level to reach towards the $4 level. The $4 level above is massively resistive and sellers would like to get involved once the market shows signs of exhaustion as the current fundamentals don’t support higher prices. The $3.50 level will offer a bit of support to the market and break below would cause the market to rollover further. …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.