Commodities Daily Forecast – March 1, 2019

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Published: Mar 1, 2019, 07:50 UTC

Gold The gold prices fell lower during Thursday's session after the US posted better than expected GDP and other economic data. The $1300 level should

Gold

The gold prices fell lower during Thursday’s session after the US posted better than expected GDP and other economic data. The $1300 level should continue to offer strong support to the market and given enough time, the market will gain enough momentum to continue going higher. If it breaks below the $1300 level, then it could go down to the $1275 level. …Read More

Silver

The silver prices broke further lower during yesterday’s session, reaching down to the supportive $15.50 level. It would be interesting how the market reacts here, as the overall sentiment in the market is a bit weak after upbeat US economic numbers. If it breaks lower, then it’s likely to reach down to the $15 level but in the long run, the silver prices will continue to gain value and likely to reach towards the $17 level. …Read More

WTI Crude Oil

The crude oil market is continuing to witness bullish sentiment after favourable inventory numbers and upbeat US economic data. Buying in crude oil is likely to continue and break above $60 level would be extremely bullish. The 200 Day EMA above, is likely to continue offering strong resistance and will be difficult to break above. In the short term, back and forth momentum is likely to continue with $55 level will be strong support. …Read More

Natural Gas

The Natural Gas prices traded sideways in yesterday’s session as it is facing strong resistance above. Its only a matter of time, as sellers will return to the market to send the prices much lower. Weak fundamentals and technical structure will continue to reign the market and rallies will continue to be a nice selling opportunity in the market. …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.