Commodities Daily Forecast – January 31, 2018

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Published: Jan 31, 2018, 09:26 UTC

Gold The gold market remained volatile during the Tuesday's session reaching down towards the $1335 level but managed a small bounce from there. Falling

Gold

The gold market remained volatile during the Tuesday’s session reaching down towards the $1335 level but managed a small bounce from there. Falling dollar price will continue to influence this market and should send the prices much higher. It has got a massive resistance around the $1350 level and if it clears above from there then $1400 level will be the next target. …Read More

Silver

The Silver prices remained volatile as the $17 level attracting a lot of noise in the market which is also a major support region. If the silver further breaks from here, it could perhaps reach the $16.75 level. But given the situation of the dollar index, the market is likely to find some bullish pressure to reach towards the $17.50 level, If the market stays above the $16.75 level then buy on dips will the good strategy to play this market. …Read More

WTI Crude Oil

The crude oil prices broke down below the general uptrend line in the hourly chart which is a very negative development and now the prices should reach the $63 level which is also a major support area. Given enough time, the market will find enough buyers to the price higher. The $65 level is going to be a major barrier for the market at this junction. …Read More

Natural Gas

The natural gas market remained volatile during Tuesday’s session as it reached the $3.50 level but faced enough resistance to fall back from there. Given enough time, the sellers will find their way into the market which will hammer the prices down towards the $3.20 level and also the expected fall in demand will keep the prices under pressure. …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.