Commodities Daily Forecast – March 22, 2019

Colin First
Crude Oil weekly chart, January 28, 2019

Gold

Gold prices initially rallied during Thursday’s session, reaching towards the $1325 level before rolling over significantly. The gold prices have broken below the $1310 level and formed a bit negative candle. Underneath $1300 level is massively supportive just as the 50 Day EMA slope which is placed underneath and will continue to drive into the market. …Read More

Silver

The silver market experienced a bit of selling in yesterday’s session, as the market struggled at the higher level. Given time, the market will continue to drive in enough value and buying dips will continue to be the right trading strategy. A break above the $15.60 level would drive the market higher towards the $16 level. …Read More

WTI Crude Oil

The crude oil price has failed to break above the $60 level in yesterday’s session and has pulled back slightly. With OPEC production cuts extending till June, the market is likely to gain value over a period of time, and if it breaks above the $60 level which is both psychologically and structurally important level, then it can easily reach towards the $65 level. …Read More

Natural Gas

The Natural Gas prices fell lower during yesterday’s session as the market continues to experience massive resistance above. Rallies at this point will continue to get sold as a sign of exhaustion and could reach down towards the $2.50 level over time. Selling in rallies will continue to be the right trading strategy at this time. …Read More

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