Commodities Daily Forecast – March 9, 2018

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Published: Mar 9, 2018, 09:58 UTC

Gold The gold prices drifted slightly lower during the Thursday's session as the USD has started to move higher. The gold is trading around the $1320

Commodities Daily Forecast – March 9, 2018

Gold

The gold prices drifted slightly lower during the Thursday’s session as the USD has started to move higher. The gold is trading around the $1320 level which has been an important support level in the past. The market is expected to be under pressure as the dollar has started showing some strength. The $1300 level is massively supportive for gold and is unlikely to be broken. …Read More

Silver

The silver prices drifted a little lower during the Thursday’s session reaching towards the $16.45 level before rolling higher. The $16.55 level is going to be significantly resistive and if it breaks above this level, then it should reach the $16.75 level next. Dollar will have major influence in this market and going forward this market will be difficult to trade. …Read More

WTI Crude Oil

The crude oil prices traded with a negative proclivity during the Thursday’s session testing the $60.20 level. This market will continue to find the bearish pressure as it is now below the positive zone of the territory. Also, oversupply in the crude market is keeping the prices under pressure and can send this market towards the $58 level and next towards the $55 level. …Read More

Natural Gas

The natural gas price went significantly lower breaking its immediate support level of $2.75 level in the Thursday’s session. This move was much of the expectation as it lacks enough bullish factors to go higher. The market should reach towards the $2.60 level in the next couple of session, however, if the price starts to move higher then $3 and $3.20 level will be massively resistive. …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.