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Commodities Daily Forecast – January 23, 2018
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Gold The gold prices were much stable during the yesterday's session but the overall looks bullish as it has been grinding upward over the last several
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Gold
The gold prices were much stable during the yesterday’s session but the overall looks bullish as it has been grinding upward over the last several sessions. The $1350 level continues to be next target for the market which is also has got a bit of resistance barrier. The $1325 and $1310 level underneath continues to be very supportive. Overall the market will continue to be very noisy because of the continued weakness in the US Dollar. …Read More
Silver
The silver prices moved very little during the yesterday’s session as it hovered just above the $17 level which offers a lot of interest in both directions. The silver continues to strengthen because the US dollar continues to struggle and sell off against all the major currencies. The $17.40 is the initial target for the market to clear and then it will eventually look forward to reaching the $18 level. On the lower side, $16.80 and $16.25 level continues to be very supportive. …Read More
WTI Crude Oil
The crude oil pulled back a little during the Monday’s session testing the $63 level but turned around from there to show signs of strength. The crude oil prices have a significant barrier at the $65 level and the market will find difficult to get past of the significant number. Looking ahead, the crude prices are likely to be range-bound between the $63 and $65 level. …Read More
Natural Gas
The natural gas prices were very volatile during the Monday’s session, initially reaching as low as $3.14 level but then showed strength to bounce higher. If the natural gas prices breakdown below $3 level then it will be a negative development for the market. Alternatively, if this market rises, the $3.40 level above is massively resistive and failure to clear above will see sellers taking control of the market. …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.
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