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Commodities Daily Forecast – March 8, 2019
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Gold The gold market is witnessing support at the $1280 level, which is helping it to rally a bit. Given the positive correlation with the EUR/USD pair,
Gold
The gold market is witnessing support at the $1280 level, which is helping it to rally a bit. Given the positive correlation with the EUR/USD pair, the gold market is likely to remain volatile and choppy. If it breaks below the $1275 level, then selling pressure in the market could intensify, which could break the gold prices towards $1250 level. …Read More
Silver
The silver market is experiencing strong support at the $15 level, but given the bearish momentum is major currency pairs like EUR/USD, the silver market is likely to break down. If the silver prices break below the $14.90 level, then it could reach down towards the $14.50 level. …Read More
WTI Crude Oil
The crude oil prices were mostly sideways during yesterday’s session, hovering around the $56 level. The $55 level underneath is the floor of the market and will continue to attract a lot of attention. Today’s job figures from the US would chart the future momentum of crude oil prices and in today’s session would remain volatile. …Read More
Natural Gas
The Natural Gas prices were mostly sideways during yesterday’s session, holding on to the bearish pressure. Given enough time, the market is likely to break down due to bearish inventory buildup. Rallies will continue to offer nice selling opportunity and could reach 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.
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