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Commodities Daily Forecast – October 3, 2017
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Gold The gold market continued to be volatile during the session on Monday, initially falling but found enough support near the $1275 level. The market is
Gold
The gold market continued to be volatile during the session on Monday, initially falling but found enough support near the $1275 level. The market is trying to make a bottom around this level with $1300 as a short-term target. Any risk-off trade in this market will help the gold prices to move higher. Looking forward, the market will be under pressure as a strong dollar and Federal Reserve’s tightening monetary policy will weigh this market down. …Read More
Silver
The silver prices were very choppy on Yesterday’s session hovering above the $16.50 level, which is also a support level. Right now, the market is largely indecisive on the general trend and if it bounces from here, then $17 will be its next target. The silver prices are also expected to move in the same direction of another precious metal counter. The floor for the silver market stands at $16 and breaching will be difficult as volatility increases. …Read More
WTI Crude Oil
The crude prices fell hard during the Monday’s session, reaching towards the $50 level which is a psychological area of the market. With strong downside momentum in the market, it is expected the market could break below the $50 level towards $49 level. This market is expected to remain volatile as oversupply issues will pull this market down. …Read More
Natural Gas
A natural gas price broke significantly towards the $2.88 level on Monday turning this market extraordinarily bearish. With yesterday’s move, any short-term rally will be selling opportunity as oversupply in this market continues. The next target for the market now stands at $2.75 and if it further breaches then it will send this market towards the $2.50 level with $3 will act as a ceiling. …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.
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