Commodities Daily Forecast – March 28, 2019

By:

Published: Mar 28, 2019, 08:36 GMT+00:00

Gold The gold prices fell during Wednesday's session as the $1325 level above is offering a strong resistance. There is a lot of noise in the market

Crude Oil weekly chart, January 28, 2019

Gold

The gold prices fell during Wednesday’s session as the $1325 level above is offering a strong resistance. There is a lot of noise in the market especially in the US bond market which directly effects the performance of USD. The 50 Day EMA underneath should offer strong support which also coincides with the structurally important $1300 level. A break below this level would send the market down towards the $1280 level. …Read More

Silver

The silver prices rolled over slightly during yesterday’s session, reaching down towards the $15.30 level. And, it has also broken below the 50 & 200 Day EMA, which is a bit negative for the market. Overall in the long term, this market remains bullish and will continue to attract buyers underneath with a target of $16 and above. …Read More

WTI Crude Oil

The crude oil prices pulled back during yesterday’s session as it struggled to break above the massively resistive $60 level. With the build-up of inventory in the US, the market is likely to lose the bullish steam and could test the $58.50 level underneath for support. If the market breaks above the top of the candle of the last few days, then the crude oil prices could definitely reach towards the $65 level. …Read More

Natural Gas

The Natural Gas prices continued to remain weak during yesterday’s session, trying to reach towards the $2.70 level. Overall the momentum of the market continues to remain weak and any signs of exhaustion could lead to a breakdown in natural gas prices. The $2.60 level underneath is massively supportive and it extends down to the $2.50 level. …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.

Editors’ Picks