Commodities Daily Forecast – January 25, 2018

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Published: Jan 25, 2018, 08:51 UTC

Gold The market turned extremely bullish during the yesterday's session as it reached the $1360 level because of the continued weakness in the dollar.

Commodities Daily Forecast – January 25, 2018

Gold

The market turned extremely bullish during the yesterday’s session as it reached the $1360 level because of the continued weakness in the dollar. Right now, the market is likely to pull back a little as it is bit overextended. The pullback in this market will offer value with supports at $1340 and $1325 level. The longer-term charts look extremely positive and the $1400 level will be a significant target. …Read More

Silver

The silver prices turned extremely bullish during the yesterday’s session as it reached the $17.50 level and above. Strength in other precious metal counters and continued weakness in the dollar is supporting the silver prices to go higher. In next few session, the market is likely to witness some amount of pressure in the top. The longer term target of the market remains at the $18.50 level and $20 level next. …Read More

WTI Crude Oil

The crude oil prices rallied during the yesterday’s session as it reached the $65 level and above. This level has been psychological resistance and a break will lead to market going much higher towards the $70 level. In the short term, the market is expected to pull back a little with major support around $63 level. Unless the market breaks below this level, market continues to remain bullish. …Read More

Natural Gas

The natural gas prices initially went sideways during the yesterday’s session but got enough resistance to roll over and show signs of weakness. The market has reached the overall top of the consolidation area and could get enough selling pressure. The $3.40 level is massively resistive for buyers and it is likely that the market will reach the $3,20 level in next couple of sessions. …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.