Commodities Daily Forecast – January 16, 2019

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Published: Jan 16, 2019, 07:24 UTC

Gold The gold prices are continuing its move around the $1290 level as it is facing extreme resistance in breaking above the psychologically important

Gold

The gold prices are continuing its move around the $1290 level as it is facing extreme resistance in breaking above the psychologically important $1300 level. If it breaks above the $1300 level, then it can reach towards the $1400 level in the long term, with some selling at every $25 until it reaches there. The $1250 level underneath is strong and hard support for the market and is unlikely to breach. …Read More

Silver

The silver market was mostly sideways during the yesterday’s session, chopping around the $15.60 level. The market is likely to find enough support at the $15.50 level and will continue to gain enough momentum to break higher towards the $16 level. The market will continue to play around the 20 and 50 Day EMA, as it moves forward. …Read More

WTI Crude Oil

The crude oil prices traded stable during the Tuesday’s session, hovering around the $50 level. In the short term, the market is likely to be on the positive side of the territory as the 20 Day EMA slope is turning higher. The $55 level above is highly resistive and a break above could send the crude oil prices towards the $60 level. …Read More

Natural Gas

The Natural Gas prices spiked earlier during the Tuesday’s session reaching towards the $3.75 level but got enough resistance above and pulled back below the $3.50 level. The market will continue to offer a nice selling opportunity on every rally, and if the natural gas prices break below the $3.20 level, then it will unwind quickly to $2.90 level, from the where the market has bounced. …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.