Commodities Daily Forecast – March 13, 2019

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Published: Mar 13, 2019, 10:18 UTC

Gold The gold market gained enough momentum during Tuesday's session to break above the massively resistive $1300 level. This region continues to attract

Crude Oil weekly chart, January 28, 2019

Gold

The gold market gained enough momentum during Tuesday’s session to break above the massively resistive $1300 level. This region continues to attract a lot of attention and the market is likely to reach towards the $1320 level next. The $1275 level is a massive support barrier and is unlikely to break down through that level. Going forward, short term pullbacks will continue to offer a nice buying opportunity. …Read More

Silver

The silver prices rallied a bit during yesterday’s session, reaching towards the $15.50 level. Given the weakness in USD following lower than anticipated job numbers and soft US retail sales data, the silver market is likely to gain momentum, and reach towards the $16 level. Short term pullbacks will continue to offer a nice buying opportunity with $15 level underneath, a strong support level. …Read More

WTI Crude Oil

The crude oil prices tried to rally during yesterday’s session reaching towards the top of the consolidation area but failed to break above that range. Given the weak momentum in the market, crude oil prices likely to trade in a back and forth momentum until it breaks above the $58 level. The $55 level underneath should continue to offer strong support to the market. …Read More

Natural Gas

The Natural Gas prices fell a bit during yesterday’s session, breaking below the 50 Day EMA slope. The overall momentum continues to remain weak and given enough time, this market will eventually break lower towards the $2.50 level. The $2.90 level above continues to be extremely resistive and going forward, rallies will continue to offer a nice selling opportunity. …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.