Commodities Daily Forecast – January 18, 2019

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Published: Jan 18, 2019, 07:40 UTC

Gold The gold prices continued to move back and forth during the Thursday's trade session, as it is struggling to break above from the important $1290

Gold

The gold prices continued to move back and forth during the Thursday’s trade session, as it is struggling to break above from the important $1290 level, which is holding the gold prices. The 20 Day EMA underneath should offer support and will be a nice trading opportunity. A break above $1300 level would be a significant move and will bring back more buyers into the market. …Read More

Silver

The silver prices pulled back a little during the yesterday’s session, but the $15.50 level underneath offered strong support. The 20 & 50 Day EMA both offering strong support to the market and will continue to push the market higher. Pullbacks of this sort will continue to offer nice buying opportunity and also trying to build up enough momentum to break higher. …Read More

WTI Crude Oil

The crude oil prices continued to continue to consolidate between the $50 and $52.50 level in yesterday’s session as the market has witnessed a lot of bullish pressure lately. The crude prices are expected to trade range bound and a daily close above 50 Day EMA would start attracting more buyers in the market. …Read More

Natural Gas

The Natural Gas market initially rallied above the $3.50 level but due to the absence of enough momentum above or serious traders, the market pulled back below the $3.50 level again. Going ahead, the market will continue to trade choppy and break below the 20 Day EMA would send the market in the $3 region. …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.