Commodities Daily Forecast – March 12, 2018

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Published: Mar 12, 2018, 08:24 UTC

Gold The gold market was a bit noisy during the Friday's session on the back of stronger US job data. The Friday's move suggests the market will continue

Gold

The gold market was a bit noisy during the Friday’s session on the back of stronger US job data. The Friday’s move suggests the market will continue to have a bit risk on move and given enough time, the market will possibly move towards the $1340 and $1350 level eventually. Going forward, the market will continue to be difficult to trade and if it manages a breakout above then it will try to move towards the $1400 level. …Read More

Silver

The silver prices exploded higher during the trading session on Friday as the stronger than expected job number came out of the US. The market is very likely to break above the $17 level in the next few session which is one of the important psychological level. The market has a massive amount of support underneath at the $16 level extending up to $15 level. …Read More

WTI Crude Oil

The crude oil prices rallied significantly during the Friday’s session reaching towards the $62.50 level, as the February jobs number in the United States were much better than expected. This will help to get a temporary boost in demand but oversupply in the market remains a concern. The market is likely to consolidate in the $60 and $63.50 range in the next several sessions. …Read More

Natural Gas

The natural gas prices went back and forth during the Friday’s session as overall situation of the market continues to be choppy. If it breaks below the $2.75 level, it will be a negative development and will continue to break further reaching towards the $2.6 and $2.5 level eventually. …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.