Commodities Daily Forecast – October 30, 2018

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Published: Oct 30, 2018, 07:50 UTC

Gold The gold prices moved a little during the Monday's session, as it is trying to gain momentum to break above the resistive $1250 level, which would

Gold

The gold prices moved a little during the Monday’s session, as it is trying to gain momentum to break above the resistive $1250 level, which would send the market towards the $1300 level. The market has strong support underneath, starting from $1230 level and extends down to the $1210 level. Pullbacks will offer a nice buying opportunity in the market. …Read More

Silver

The silver market continued with its bullish momentum during the yesterday’s session as it tried to reach towards the $15 level. A break could send the prices towards the $16 level, followed by $17 level, which is massively resistive. The market will also continue to be noisy given the volatility around the USD and overall risk appetite. The $14.50 level underneath is the strong support point of the market. …Read More

WTI Crude Oil

The crude prices fell a bit during Monday’s session, reaching down towards a major uptrend line, which has been supportive in the past. If it breaks below, then the market should go down to the $65 level and much lower. If the market succeeds to stay above the uptrend line, then it will be extremely bullish. …Read More

Natural Gas

The overall momentum of the natural gas market turned negative as it broke down below the $3.20 level, reaching down to the $3.15 level which offers a minor support. Sellers would like to make their presence felt, and if the prices break below the $3.10 level, then it would probably go down towards the $3 level and much lower. …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.