Commodities Daily Forecast – March 1, 2018

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Published: Mar 1, 2018, 08:09 UTC

Gold The gold prices went sideways during most part of the Wednesday's session after falling drastically on Tuesday's session. The strengthening of the

Gold

The gold prices went sideways during most part of the Wednesday’s session after falling drastically on Tuesday’s session. The strengthening of the dollar has a bearish pressure on the gold market and eventually if the gold prices clear above the $1325 level, then it should probably grind towards the $1340 level and eventually $1350 level. In the longer term, the gold prices are looking to break above the $1400 level. …Read More

Silver

The silver prices went higher during the Wednesday’s session reaching towards the $16.50 level and if it able to clear it, then it should go to the $16.60 level and above, perhaps $16.75 level. Going forward, given the strength in the dollar in last two sessions, the silver prices are expected to remain volatile and noisy and will trade with support levels at $16.20 and $16 level. …Read More

WTI Crude Oil

The crude oil prices initially went sideways during the most part of the yesterday’s sessions but market broke down significantly, The $62 level is going to offer a bit of support to the market from where a short bounce is expected. In the long term, the market is expected to reach $60 level and much below due to weak fundamentals of the market. …Read More

Natural Gas

The natural gas prices went sideways during most part of the yesterday’s session as it is trying to form some type of base. The market is likely to find buyers from here as the market has corrected a lot and the $2.50 level is going to be the massive support as well as the floor of this market and in the higher side, $3 and $3.20 level will be the maximum upper limit. Going ahead, the market will remain volatile as the fundamentals continue to remain weak. …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.