Commodities Daily Forecast – March 16, 2018

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Published: Mar 16, 2018, 09:28 UTC

Gold The gold prices cracked during the yesterday's session reaching towards the $1315 level, an area which has been supportive in the past. The market is

Gold

The gold prices cracked during the yesterday’s session reaching towards the $1315 level, an area which has been supportive in the past. The market is expecting some kind of bounce which will help to return towards the $1330 level again. If it breaks further from here, the buyers are expected to pick this market up from the $1,300 level. …Read More

Silver

The silver prices lost over 1 percent of its value during the yesterday’s session reaching down towards the $16.30 level. The market is still in a larger consolidation area that should cause issues and move lower. The $15.50 level underneath is massively supportive and given enough time this market will attract buyers to take the prices higher. …Read More

WTI Crude Oil

The crude oil prices went slightly higher during the yesterday’s session using the uptrend line around the $60.50 level as support. In the higher side, $62.50 level is going to be massively resistive and until is cross above that level, buyers will avoid this market. Going forward the market will continue to be noisy due to both technical and fundamental factors which continue to be weak. …Read More

Natural Gas

The natural gas prices cracked lower during the yesterday’s session reaching down to the $2.65 level. Yesterday’s move in the market has blown out the prospect of any up-move in near time and will continue to move lower towards the $2.50 level. Any short-term rally in the market will attract sellers into this 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.