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Commodities Daily Forecast – October 4, 2017
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Gold The gold market rallied a bit during the day on Tuesday after falling below the $1275 level which now has turned a resistance zone. The market will
Gold
The gold market rallied a bit during the day on Tuesday after falling below the $1275 level which now has turned a resistance zone. The market will now probably fall towards the $1268 level and then towards the $1250 level. Any short-term rally in the market will continue to see selling pressure. The market will continue to be choppy and indecisive. Dollar strength and recovery in economic activities in the US will push the prices down. …Read More
Silver
The silver prices rose significantly during the Tuesday’s session towards the $16.65 level. In the higher zone, the market is expected to get a resistance at $16.75 level and if it crosses above with strong momentum then $17 will probably the next target. And, If it breaks down below the $16.57 level then $16 will be the next target for the market. …Read More
WTI Crude Oil
The crude prices moved back and forth during the session on Tuesday just above its support level at $50 level. This level has a psychological importance and if the prices breakdown below this level, then selling pressure will continue in this market ans will probably go towards the $46 level underneath. …Read More
Natural Gas
The huge drop in the price of natural gas on Monday has made this market more volatile. Yesterday’s session the market was mostly sideways but then rolled over towards the $2.88 level. Going forward, selling pressure is likely to continue in the market and next target for the market will be $2.50 level over the long term. Any short-term rally will witness a sell-off in this current market structure. …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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