Commodities Daily Forecast – January 21, 2019

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Published: Jan 21, 2019, 08:07 UTC

Gold The gold prices have pulled back in the Friday's session, reaching down to the $1280 level which is offering a bit of support. The market will

Gold

The gold prices have pulled back in the Friday’s session, reaching down to the $1280 level which is offering a bit of support. The market will continue to be bullish in the long term as the Federal Reserve is likely to go easy on rate hikes. A break above $1300 level would bring more buyers into the market and send the gold prices much higher. …Read More

Silver

The silver market has entered a bearish territory of the trend by breaking below the supportive $15.50 level. The market is likely to get strong support at the 50 Day EMA, but if it fails the support line, then most probably the silver prices will break towards the $15 level and much below. The silver market needs to reclaim the $15.50 level in next few sessions in order to maintain the bullish sentiment. …Read More

WTI Crude Oil

The crude oil prices moved higher during the Friday’s session, clearing above the 50 Day EMA which is a bit bullish for the market. If the crude prices break above the $55 level, then it can easily reach towards the $60 level and will also continue to attract buyers. Short term pullbacks will continue to be a nice buying opportunity and it is likely that the market has bucked the downward trend. …Read More

Natural Gas

The Natural Gas prices fell a bit during Friday’s session as the market continued to witness selling pressure. The $3.20 level underneath is strong support for the natural gas prices and a break could send the market towards the $2.90 level. In the alternate scenario, $3.50 level above will offer massive resistance to the natural gas prices. …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.