Commodities Daily Forecast – November 15, 2017

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Published: Nov 15, 2017, 07:11 UTC

Gold The gold prices initially moved lower during the yesterday's session breaking below the $1275 level but got enough reason to rally higher. The market

Gold

The gold prices initially moved lower during the yesterday’s session breaking below the $1275 level but got enough reason to rally higher. The market is expected to remain strong for next few sessions as US dollar is going through a lot of noise post failure of US Congress to get through the tax reform bill. The $1290 level will be a major resistance extending up to $1300 level. …Read More

Silver

The silver prices were quite volatile during the yesterday’s session moving in back and forth direction. The prices hovered around the $17 level throughout the day. The market is expected to remain volatile as the absence of any significant trigger. Silver is likely to follow the price movement of all precious metal counters including gold which is now around the top of consolidation zone. A break above $17.50 will eventually send this market to $18 level. …Read More

WTI Crude Oil

The crude prices rolled off significantly during the Tuesday’s session reaching the $55 support level. This area is psychologically important for this market and a bounce from here will send this market higher towards $56.75 level. The market should continue to be volatile as oil inventory numbers coming out today and breakdown below will eventually send this market down towards $54 level. …Read More

Natural Gas

The natural gas market traded weak in Tuesday’s session slamming the $3.10 level underneath. By breaking below the $3.10 level, the market seems to rollover further towards the $3 level and will also attract sellers to send this market lower. Based on the demand cycle and seasonality, the will gain certain bullish pressure which will send this market to the $3.30 level. Alternatively, a break below $3 will send this market towards $2.85 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.