Commodities Daily Forecast – October 17, 2018

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Published: Oct 17, 2018, 08:59 UTC

Gold The gold market traded sideways mostly through the Tuesday's session as it has been trying to gain some momentum. The gold prices have shown strong

Gold

The gold market traded sideways mostly through the Tuesday’s session as it has been trying to gain some momentum. The gold prices have shown strong upside momentum in the last several sessions and pull-back under this condition will offer a nice buying opportunity. The $1220 level underneath is an excellent support point for this market and will attract a lot of buyers into the market. …Read More

Silver

The silver market continued to show signs of strength during yesterday’s session moving up towards the $15 level, which is extremely resistive. The pullbacks will continue to attract value buyers which will send the prices higher. The silver market has a strong support placed at $14.70, $14.60 and more importantly $14.50 level. If it breaks above the $15 level, then next major stop will be at $15.20 level. …Read More

WTI Crude Oil

The crude prices have rallied a bit during yesterday’s session but the strong bullish momentum is currently missing from the market. Going forward, the market is likely to continue trading volatile with $71 and $70 level underneath is offering a strong support to the market. If the crude prices break above the $72 level again, then $75 level would be an easy target. …Read More

Natural Gas

The natural gas prices have pulled back during yesterday’s session as it is trying to factor in all the massive gains in the recent past. The $3.15 level underneath is a strong support point and will continue to attract buyers. A bounce from this level will directly send the natural gas prices towards the $3.30 level or above. …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.