Commodities Daily Forecast – March 25, 2019

Colin First
Crude Oil weekly chart, January 28, 2019

Gold

Gold prices initially fell during the Friday’s session but witnessed recovery from the lower level to reach towards the $1320 level. With fears of a global recession growing strong, the gold market will continue to attract buyers due to a risk-off sentiment. The $1325 level is the next major resistance and a break above could send it towards the $1350 level or much higher. …Read More

Silver

The silver prices rallied towards the $15.50 level on Friday’s session but is experiencing stiff resistance at the 200 Day EMA. With overall strength in the precious metal counter due to the weak USD, the silver market will also try to rally higher, a break above the $15.50 level would send it towards the $16 level. …Read More

WTI Crude Oil

The crude oil prices reversed its momentum during Friday’s session, pulling back towards the $58 level. With fear of a global recession growing strong, the crude oil market is likely to suffer in terms of lower demand, which will further spook the prices. At this moment, rallies would offer a nice selling opportunity and break below the $58 level would send the prices towards $55 level. …Read More

Natural Gas

The Natural Gas prices fell hard during Friday’s session, reaching down towards the $2.70 level. The news of global slowdown acted as a trigger point for the market and looking at the chart, its likely that the market will break down towards the $2.50 level. Rallies will continue to be a nice selling opportunity and break below $2.50 level would ultimately send the market towards $2 level. …Read More

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