Commodities Daily Forecast – March 15, 2019

Colin First
Commodities Cargos

Gold

The gold prices fell lower during Thursday’s session, breaking below the supportive $1300 level. The market is likely to test for support underneath, which is placed at the $1280 level and the 50 Day EMA underneath. Pullbacks will continue to offer a nice buying opportunity, and a break above the $1310-$1315 range would send gold prices much higher. …Read More

Silver

The silver market witnessed a sell-off during yesterday’s session as the prices plummeted down towards the $15.15 level. The precious metal counter is witnessing a bit of selloff in the last few sessions, but given enough time, this market will turnaround to reach much higher. If the silver prices break above the $15.50 level, then it would attract enough buyers to send the silver prices much higher possibly towards the $16 level. …Read More

WTI Crude Oil

The crude oil market is witnessing a buildup of bullish momentum as it has broken above the 200 Day EMA slope in yesterday’s session. The market is witnessing a lot of demand underneath but given the massive resistance at the $60 level, the market is likely to trade in a back and forth momentum. In the short to medium term, the crude oil market is likely to trade in between the $55 to $60 range. …Read More

Natural Gas

The Natural Gas traded mostly sideways during yesterday’s session as it failed to gain enough momentum breaking higher. Further, the buildup of inventory is also likely to send the prices lower towards the $2.60 level. The $2.90 level above is extremely resistive, and any signs of exhaustion in the market will attract the sellers back into the market. …Read More

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