Gold
The gold prices reached the $1300 level in yesterday’s session which is the floor of this current bullish trend. This area should attract a lot of buyers interest but given the conditions of the overall forex market, it likely that it will be difficult for the gold prices to move higher significantly. If it breaks from here, then $1275 level will be the next support level. …Read More
Silver
The silver prices fell through the day on Tuesday reaching the $16 level, an area which has an important structure. A break below could send the market towards the $15.50 level and next towards the $15 level. Rising interest rate of US paper is negatively affecting the overall commodities market and break below $15 will be catastrophic and more likely to send the price towards the $12 level. …Read More
WTI Crude Oil
The crude oil prices went lower during the yesterday’s session reaching down towards the $67 level. This is likely to due to rising supply from Iran and exports are hitting record high level but the situation will not last long due to sanctions issues. The $67 area is a major support level that extends down to the $66 level. If it bounces from here, then it is likely that it should reach towards the $69 level next. …Read More
Natural Gas
The natural gas prices went higher during the yesterday’s session reaching towards the $2.80 level which is massively resistive. A break above this level could send the price higher towards the $3 level but the possibility is also higher that it will attract sellers around the region because of lack of fundamental support. …Read More