Commodities Daily Forecast – January 23, 2019

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Published: Jan 23, 2019, 10:11 UTC

Gold The gold prices are back above the $1280 level, as it is witnessing strong support and buying at the lower level. The market is likely to continue

Gold

The gold prices are back above the $1280 level, as it is witnessing strong support and buying at the lower level. The market is likely to continue gaining momentum and will eventually break above the $1300 level, which would be an extremely bullish development. Underneath, the 50 and 200 Day EMAs are providing strong support to the gold prices. …Read More

Silver

The silver prices have rallied a bit during yesterday’s session, as it found enough buyers underneath. The $15 level underneath should continue to offer strong support to the silver prices and if it breaks below this level, then it will entirely wipe out the bullish momentum of the market. The market will continue to witness bullish momentum and will reach towards the $16 level. …Read More

WTI Crude Oil

The crude oil prices hovered around the $53 level in the Tuesday’s session, as it is showing signs of exhaustion near the $55 level. The market will continue to struggle to break above the $55 level, and further 50 Day EMA is offering stiff resistance. If the market breaks below the $50 level, then entire momentum will reverse completely. …Read More

Natural Gas

The Natural Gas prices crashed during yesterday’s session, breaking below the $3.10 level. The selling pressure will deepen further and the natural gas prices could reach down to the $2.90 level underneath, from where it had rallied earlier. The market will continue to struggle to move higher with $3.20 and $3.50 level above is massively resistive. …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.