Commodities Daily Forecast – January 30, 2018

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Published: Jan 30, 2018, 08:23 UTC

Gold The gold prices dropped during the Monday's session as the US dollar started to gain some momentum. The $1325 level will be immediate support for

Commodities Daily Forecast – January 30, 2018

Gold

The gold prices dropped during the Monday’s session as the US dollar started to gain some momentum. The $1325 level will be immediate support for this market and if it fails to hold then $1300 level will be massively supportive. Pay attention to the dollar index, because if it starts to fall again gold prices will tread higher. On the higher side, $1350 will be massively resistive. …Read More

Silver

The Silver prices dropped during the Monday’s session and are expected to reach the $17 level if it continues to go weak. The strength in the dollar index might also keep this market under pressure but how long the strength is survived. The support for the market is extended up to $16.80 level and $16.50 level eventually where the buyers would be interested in this market. …Read More

WTI Crude Oil

The crude oil prices dropped during the Monday’s session reaching the $65 level underneath which is a psychologically significant number and has been resistive in the past. The market is likely to bounce higher from here and if it fails then probably reach towards the $63.50 level. Strengthening of US dollar will also have a significant effect on this market. …Read More

Natural Gas

The natural gas prices went sideways during most of the yesterday’s session bouncing from the $3.30 level that offers significant support. A breakdown from this point will be very negative and probably reach towards the $3.20 level and then $3 level eventually. There is a massive barrier to $3.50 level which is a psychologically significant number. This market is very unpredictable and noisy and can see big movements in a very short time frame. …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.