Commodities Daily Forecast – October 26, 2018

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Published: Oct 26, 2018, 07:45 UTC

Gold The gold overall continued to be noisy during the Thursday's session but continued to remain positive. If it could break above the $1250 level, then

Gold

The gold overall continued to be noisy during the Thursday’s session but continued to remain positive. If it could break above the $1250 level, then long-term traders are likely to get involved and push the market towards the $1300 level. The market is trying to form a base around the level with 50 EMA is likely to offer strong support and will be a buy on dips market. …Read More

Silver

The silver market traded sideways in the yesterday’s session after rallying for past few sessions from the $14 level. The 50 EMA is offering strong support and the market is likely to target the $15 level next. The market will probably be on buy on dips strategy with $14.50 level underneath offering strong support. A break below this point could see market roll over towards the $14 level. …Read More

WTI Crude Oil

The crude prices initially rallied, reaching towards the $67.50 level in the yesterday’s session but then pulled back. There is also 50 EMA rollover happening and currently at 78.6% in Fibonacci scale, which overall indicates of a very weak sentiment. If the market breaks down below the $66 level, then it could reach towards the $63.50 level. …Read More

Natural Gas

The natural gas prices were extremely noisy during yesterday’s session due to the release of inventory numbers. The market seems to be in a comfortable area and in the short term it is likely to be in a back and forth momentum between the $3.10 and $3.25 level. With the rise in demand during the winters, natural gas prices are likely to move further higher possibly towards the $3.50 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.