Commodities Daily Forecast – October 3, 2018

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Published: Oct 3, 2018, 08:45 UTC

Gold The gold market witnessed a bullish spike during the Tuesday's session, breaking above the $1200 level to reach towards the $1210 level. The gold

Commodities Daily Forecast – October 3, 2018

Gold

The gold market witnessed a bullish spike during the Tuesday’s session, breaking above the $1200 level to reach towards the $1210 level. The gold market was showing extreme resiliency around the $1200 level in last several session and has helped it to break higher. Also, the market should continue to be volatile due to the strength in USD and also buying on dips will continue to be the right strategy to play this market. …Read More

Silver

The silver followed the momentum of the gold market in the yesterday’s session as it shot higher to reach towards the $15 level. The market is closely following the movements of the EUR/USD pair which has bounced higher from the 1.15 level. The $14 level underneath is a massive support level and is unlikely to be broken anytime soon. Pullbacks should offer a nice buying opportunity. …Read More

WTI Crude Oil

After breaking above the $75 level in the yesterday’s session, crude oil slightly pulled back but continued to hover above the $75 level. This area has a certain amount of psychological support built into it and should get enough buying pressure. There will be a lot of volatility in the market and pullbacks should continue to be a nice buying opportunity with a target of $77 level. …Read More

Natural Gas

The natural gas prices continued to trade bullish as it broke above the $3.10 level in the yesterday’s session. The market has broken the range of $2.95 and $3.10 level and it is a very bullish sign. With seasonality factors gets into play, the market is likely to adjust itself above the $3 level. The market is likely to target the $3.20 level next and short-term pullbacks should offer a nice buying 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.