Commodities Daily Forecast – January 17, 2018

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Published: Jan 18, 2018, 07:38 UTC

Gold The gold prices pulled back during the yesterday's session as it found enough resistance to continue moving higher towards the $1350 level. The

Gold

The gold prices pulled back during the yesterday’s session as it found enough resistance to continue moving higher towards the $1350 level. The market is expected to remain volatile as it trying to build up enough momentum to continue higher and every pullback in this market will continue to offer value. The $1325 is the crucial support for the gold prices which is extended towards the $1300 level next. …Read More

Silver

The silver prices remain volatile during most of the session on Wednesday as it reached the $17 level after reaching the $17.25 level initially. The market will continue to be noisy as the dollar is getting some amount of support at the lower level and also the most of the currencies have rallied significantly off lately. The next support for the market is at $16.80 level which will attract enough buyers to the market. …Read More

WTI Crude Oil

The crude oil prices bounced higher after experiencing support at the uptrend line at the hourly chart which has been important for some time. The market is likely to move higher towards the $65 level and above as it has given the positive signal from bouncing from this uptrend line. Going forward, the heightened noise around higher prices will keep this market under check. …Read More

Natural Gas

The natural gas prices significantly rallied during the yesterday’s session reaching as high as $3.28 level but pulled back slightly from there indicating the market is bit overextended. Until the prices comfortably reach the $3.40 level, the natural gas prices will remain under pressure and might reach the $3 level underneath. If this market can break above $3.40 level, then it will explode to the upside. …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.