Commodities Daily Forecast – January 19, 2018

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Published: Jan 19, 2018, 09:11 UTC

Gold The gold prices rallied slightly during the yesterday's session using the support at $1325 level which indicates a building up of bullish pressure in

Gold

The gold prices rallied slightly during the yesterday’s session using the support at $1325 level which indicates a building up of bullish pressure in the counter. The gold prices should continue to benefit from the softening dollar, assuming the trend continues. If it breaks below the $1325 level, then eventually next support will be around $1300 level which is a psychologically significant level. …Read More

Silver

The silver prices rallied slightly during the day on Thursday, breaking above the $17 level. The market is likely to be in range bound movement in next couple of session. Overall the general sentiment of this market is positive and soft dollar and strength in prices of other precious metal will continue to support the prices higher towards the $17.25 level. …Read More

WTI Crude Oil

The crude oil prices rolled back during the yesterday’s session as it experienced support at the general uptrend line. The $63.50 level is going to massively supportive and the market will bounce higher from here towards the $64 and $65 level which is a psychologically significant barrier. And, if this market breaks below the $63 level then it could probably reach towards the $60 level. …Read More

Natural Gas

The natural gas prices rolled back during the yesterday’s session as the oversupply fear has once again stricken the market. The prices are likely to head south reaching towards the $3 level and once it breaks that level then $2.75 level will be the next which is also the fair value of this market. The massive resistance above $3.40 level is very unlikely to be broken and is believed that the market will remain very noisy. …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.