Commodities Daily Forecast – January 22, 2018

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Published: Jan 22, 2018, 08:45 UTC

Gold The gold prices rallied significantly during the Friday's session reaching towards the $1334 level but pulled back slightly from there. The weakness

Gold

The gold prices rallied significantly during the Friday’s session reaching towards the $1334 level but pulled back slightly from there. The weakness in the dollar index is supporting the prices of gold to go higher. Right now, the gold prices are well supported at the $1325 level extending up to $1300 level. A break above $1350 will be a major event for the market which will send the prices higher towards the $1400 level. …Read More

Silver

The silver prices were much volatile during the Friday’s session initially rallied above the $17 level but settled around the $17 level at the day’s end. The $17.10 level is going to offer short-term resistance while $16.90 level is the support. Because of this market is expected to be in the range for quite some time. A support from higher gold prices could help this market to scale higher level reaching towards the $17.25 level and $17.50 level eventually. …Read More

WTI Crude Oil

The crude oil prices were bit volatile during the Friday’s session as it found a bit of support near the $63 level. The market is likely to have a small correction in the near future before it again starts to go higher. If the crude prices break below the lows of Friday, then the market is expected to reach the $62 level. A bounce from here could lead to prices going higher towards the $64.25 level. …Read More

Natural Gas

The natural gas prices were volatile during the Friday’s session as it reached towards the $3.13 level but later got support to reach the $3.23 level, again to fall back. The $3.10 level is going to offer significant support and a breakdown could be negative for the market which will send the prices towards the $3 level. …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.