Commodities Daily Forecast – November 15, 2018

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Published: Nov 15, 2018, 10:33 UTC

Gold The gold market went back and forth during the Wednesday's session, using the support at $1200 level. If the market breaks below the $1200 level, it

Gold

The gold market went back and forth during the Wednesday’s session, using the support at $1200 level. If the market breaks below the $1200 level, it will be negative and could reach down towards the $1175, before bouncing higher. The strength in the USD will keep the market under pressure and if it breaks the $1175 level, then it could open the doors towards the $1100 level. …Read More

Silver

The silver prices continue to trade above the crucial support of $14 level, which is a good sign for the market. The market is highly influenced by the trading pattern of EUR/USD pair and if it breaks below the $14 range, then it will be extremely negative and could reach down to the $13 level. …Read More

WTI Crude Oil

The crude oil market is witnessed a slight bounce in the Wednesday’s session, after falling significantly in the previous session. The market at this point is likely to get a bounce as it has been in oversold territory. If the market breaks down below the $55 level, then it can easily break down to the $50 level, which will be then extremely negative. …Read More

Natural Gas

The natural gas prices continued to be bullish, reaching towards the $5 level in the yesterday’s session. There will be a point in the market when there will be an eventual turnaround and will be sold-off significantly. At this point, making fresh positions in the market will be risky as there are high chances of momentum reversal. …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.