Commodities Daily Forecast – October 15, 2018

Colin First
Crude Oil daily chart, March 14, 2018
Container Cargo freight ship with working crane bridge in shipyard.

Gold

The gold prices were sideways during the Friday’s session as the $1220 level offering a strong support. The market will eventually move higher. as the USD is witnessing some amount of weakness as the global market looks to stable out from the downtrend and also the US is witnessing slowing down in key economic data. The break above $1230 level, likely to send the price towards the $1250 level. …Read More

Silver

The silver market initially rallied during the Friday’s session but found $14.70 level too resistive to pull back slightly. The $14.50 level is offering a strong support and will also attract a number of buyers into this market. A break above $14.80 level will send the silver prices towards the $15 level and higher. …Read More

WTI Crude Oil

Off late, the crude oil prices have lost all the bullish momentum and on Friday’s session, it failed to break above the $72 level. The market is likely to test the $70 level underneath and if it breaks down further, then it would get negative. The current demand and supply equation will keep the market volatile and too much noisy. …Read More

Natural Gas

The natural gas market initially has broken below the $3.20 level but found enough support to rally higher again. The market will find plenty of buyers underneath especially near the $3.10 level which is offering a strong support to the market. If it breaks above the $3.20 level again, then it could reach towards the $3.25 level next. …Read More

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