Commodities Daily Forecast – January 22, 2019

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Published: Jan 22, 2019, 09:06 UTC

Gold Gold prices have pulled back significantly during the Monday's session, breaking below the supportive $1280 level. It is expected that the market

Gold

Gold prices have pulled back significantly during the Monday’s session, breaking below the supportive $1280 level. It is expected that the market will continue to witness volatility until it breaks above the $1300 level. Pullbacks of this sort will continue to be a nice buying opportunity with strong support at $1250 level. …Read More

Silver

The silver market witnessed extreme selling pressure during yesterday’s session, breaking below the $15.20 level. The $15 level underneath is strong support for the silver market and 50 Day EMA should also offer strong support. Until the market stays above $15 level, pullbacks of this sort will offer a nice value to long term traders. …Read More

WTI Crude Oil

The crude oil prices rallied initially during yesterday’s session, but due to the absence of significant liquidity in the market, it pulled back to give back all the gains. The market has strong resistance above at the $55 level and will be difficult for the market to break above. Underneath, the $52.50 level and $50 level will be strong support for the pair. …Read More

Natural Gas

The Natural Gas prices were very quiet during yesterday’s session, hovering around the $3.35 level, mainly due to the lack of liquidity around because of the closure of American markets. The $3.50 level above will continue to be a strong resistance above and selling pressure will remain. A break below $3.20 level would send the market towards the $2.90 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.