Commodities Daily Forecast – October 27, 2017

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Published: Oct 27, 2017, 07:36 UTC

Gold The gold market initially rallied a bit but found enough resistance to roll over and to go below the $1275 level. With US dollar gaining strength

Gold

The gold market initially rallied a bit but found enough resistance to roll over and to go below the $1275 level. With US dollar gaining strength over time, the gold prices will continue to fall towards the $1250 which is also a long-term consolidation level. Short-term rally in the market will an excellent selling opportunity until it breaks above the $1290 level. Going forward, this market will be quite volatile as the moves around Fed will create a lot of noise. …Read More

Silver

The Silver market went in back and forth movement in yesterday’s session as the $17 level was very resistive. The market rolled down towards the $16.80 level. If the silver prices break from this level then $16.50 will be the next target for this market and a break above $17.15 level will send this market will send this market much higher. …Read More

WTI Crude Oil

The crude market was largely volatile in the yesterday’s session hovering just below the important $52.50 level. With Baker Hughes Oil Rig Count coming out today, the market will be very choppy and if a positive set of data comes out then the market will roll over towards the $51.50 level or below. This market has successfully above the long-term consolidation zone of $50 and if it breaks above $52.50 level, then it will go much higher towards the $55 level. …Read More

Natural Gas

The natural gas fell through the day on Thursday towards its support level of $2.85. This market will continue to see negativity in the overall pricing of the commodity. Going forward, the natural gas prices will largely on consolidation mode and will move in a range of $2.85 and $3 level. The long-term fundamentals of this market remains weak and any rally will be a good selling opportunity. …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.