Commodities Daily Forecast – October 25, 2018

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Published: Oct 25, 2018, 14:45 UTC

Gold The gold market initially fell during the Wednesday's session but found enough support around the $1230 level. The market will continue to attract

Commodities Daily Forecast – October 25, 2018

Gold

The gold market initially fell during the Wednesday’s session but found enough support around the $1230 level. The market will continue to attract buyers on every pullback and will continue towards the $1250 level and above. Volatility will be the mainstay of this market as it moves ahead. A break above $1250 level will be extremely positive for the market. …Read More

Silver

The silver prices initially pulled back during yesterday’s session, but $14.70 level offered enough support to bounce back to reclaim the $14.80 level. The $14.50 level underneath continues to offer strong support and is unlikely to break below easily, at least for the short term. The $15 level is a strong psychological and structural resistance and if it can overcome, then it can continue to move higher towards the $16 level region in the long term. …Read More

WTI Crude Oil

The crude prices initially tried to rally but due to extreme resistance above, it pulled back reaching down towards the $66 level. With OPEC members deciding to increase supply and rise in inventory in the US has led to some pressure in the crude price. If it breaks below the $65 level, then it could easily reach towards the $62.50 level, which is also the next major support level. …Read More

Natural Gas

The natural gas was volatile in yesterday’s session, initially pulling back towards the $3.15 level, only to find enough buyers to reach towards the $3.25 level, The natural gas price is facing extreme resistance at the $3.25 level, and a break above this level could send the natural gas prices towards the $3.35 level and 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.