Commodities Daily Forecast – September 1, 2017

By:

Published: Sep 1, 2017, 07:41 UTC

Gold The gold market started its day on Thursday with a negative bias but found enough support near the $1300 mark to move higher. This move indicates a

Gold

The gold market started its day on Thursday with a negative bias but found enough support near the $1300 mark to move higher. This move indicates a bullish trend in the market and is targeting to go higher. If the job data from the US is on the negative side, then it will help the gold prices to tread higher towards the $1350 level. The market is likely to be on buy on dips strategy as we broke the long term consolidation area. …Read More

Silver

As the general trend of continuing upside in the precious metal counter, the silver market also scaled higher during the Thursday’s session. The market is facing some amount of resistance in the upper zone of 17.60 level. Overall, the weakness in US dollar and today’s job data from the US will make the market volatile in today’s session. Looking ahead, buying to continue in this market until we break the $17.25 support level underneath. …Read More

WTI Crude Oil

The crude prices went higher during the day on Thursday, reaching towards $47.25 level. The market has resistance around the $47.50 zone and Nonfarm Payroll data which is coming out today may create some amount of volatility in the prices. The market is bit over supplied currently due to the closure of refineries in Texas region so there will be downward pressure on the prices. And, it is better for traders to wait for the market to settle down before making any new positions. …Read More

Natural Gas

The Natural Gas prices were initially in the red zone but as news of trouble in some refineries started to pour in, crude prices sliced higher through the $ 3 level which is a significant move. Looking forward, it is expected that the sellers will return the market to take it down. Given the overreaction of the news in the market eventually, the prices will get corrected in the near term. …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.