Commodities Daily Forecast – October 2, 2018

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Published: Oct 2, 2018, 09:38 UTC

Gold The gold market remained choppy through the Monday's session as the $1195 level is strong resistance to the market. The gold market is likely to

Gold

The gold market remained choppy through the Monday’s session as the $1195 level is strong resistance to the market. The gold market is likely to continue trade under pressure with next major support is at $1185 level. If it breaks further from here, then it is likely to reach down towards the $1175 level. Buying short-term pullbacks will continue to be a right strategy to play this market. …Read More

Silver

The silver prices rolled over during the Monday’s session reaching down to the $14.40 level, where it experienced a bit of support. The silver prices need to break and stay above the $14.80 level, in order to continue moving higher. The $14 level will continue to offer a strong support to the market and will also attract a lot of buyers around the region. …Read More

WTI Crude Oil

The crude oil prices rallied further during the yesterday’s session as it broke above the $74 level. The crude price is likely to continue reach towards the $75 level and above, as the current supply-demand equation is supporting the market. Occasional pullbacks will continue to offer a nice buying opportunity and overall attitude of the market should remain bullish. …Read More

Natural Gas

After the Friday’s fall, the natural gas prices rallied significantly during the Monday’s session reaching towards the $3.10 level. The market is expected to remain choppy as the region above is extremely resistive. The seasonality factor should also now kick in the market which will send the natural gas prices higher. A break above $3.10 level will send the market towards the $3.20 and $3.25 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.