Commodities Daily Forecast – March 8, 2018

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Published: Mar 8, 2018, 09:27 UTC

Gold The gold prices drifted slightly lower during the Wednesday's session reaching towards the $1330 level, that's an area which was previously resistive

Commodities Daily Forecast – March 8, 2018

Gold

The gold prices drifted slightly lower during the Wednesday’s session reaching towards the $1330 level, that’s an area which was previously resistive and could offer support. Given time, the market is likely to break above the $1340 level and $1350 level eventually, which could send the market perhaps towards the $1375 level. Buying short-term dips will be the right strategy to play this market. …Read More

Silver

The silver prices pulled back during the Wednesday’s session after the prices exploded higher during the Tuesday’s session. The pair is likely to test for support at the $16.50 level before starting to move higher towards the $17 level. A break above this level will probably send the market towards the $17.25 level and then at the $17.50 level. …Read More

WTI Crude Oil

The crude oil prices started to fall during the Wednesday’s session reaching towards the $60.50 level and is likely to break the important $60 level in next couple of hours. If it breaks below, then the market should continue to reach towards the $58 level underneath. Short-term rallies provide good opportunity to sell this market and if USD strengthens then the market will enter the bearish phase. …Read More

Natural Gas

The natural gas broke its immediate resistance at the $2.75 level during the Wednesday’s session to reach towards the $2.80 level. The market is likely to move towards the $3 level in the next couple of session, the area which is massively resistive and also sellers are likely to enter the market there to pull the prices down. …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.