Commodities Daily Forecast – October 4, 2018

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Published: Oct 4, 2018, 14:51 UTC

Gold The gold prices pulled back during the Wednesday's session after rallying significantly in the previous session. The $1205 level is offering a bit

Gold

The gold prices pulled back during the Wednesday’s session after rallying significantly in the previous session. The $1205 level is offering a bit for support to the market but given the strength in the USD, the gold prices can further correct. The $1195 level down is an important support level and could be a nice buying opportunity at that level. …Read More

Silver

The silver prices drifted lower during the Wednesday’s session as the overall forex and commodity market continued to trade under pressure. The $14.50 level underneath is a hard support for the market which is likely to attract enough buyers into the market. The $14.85 and $15 is likely to offer a bit of resistance to the silver prices going higher. Tracking the momentum of EUR/USD pair is likely to help to chart the next price levels for silver. …Read More

WTI Crude Oil

The crude oil prices remained sideways during the yesterday’s session and is also facing headwinds at the $75 level. The crude oil prices have rallied significantly in the last several sessions and is likely to experience a bit of pullback. The $72.50 level underneath is a strong support point which will attract enough buyers into the market to send the price higher. …Read More

Natural Gas

The bullish momentum in the natural gas prices continued through the Wednesday’s session as it broke above the $3.20 level to reach towards the $3.24 level. The market has rallied significantly in the past few sessions and is likely to experience a pullback. The $3.15 level underneath will be an important support level underneath which extends down to the $3.10 level. …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.