Commodities Daily Forecast – September 11, 2017

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Updated: Sep 11, 2017, 12:27 UTC

Gold The Friday's session seems to be profit booking session for the gold market. Initially, it went towards the $1355 level but pulled back towards the

Gold

The Friday’s session seems to be profit booking session for the gold market. Initially, it went towards the $1355 level but pulled back towards the $1345 level which is acting as a support level. The momentum in the market is very strong and is likely to continue its bullish trend up towards the $1400 level. Looking forward, the dollar price movement will provide the much directions to the market. …Read More

Silver

The silver market maintained the $18 level in the close of Friday’s session. The market initially tried to move higher but selling from the higher level followed to move it lower. Earlier we had a breakout from the current level and is expected the buyers should return. The Short term target for the market will be $18.50, with nice buying opportunity in next couple of session. …Read More

WTI Crude Oil

The crude market fell apart on Friday’s session towards the $47.50 level which offers a significant amount of support. Currently, the weather concerns playing a major role in the movement of prices. Hurricane Irma’s lessened effect on the Gulf of Mexico has supported the price. The market will find too much difficulty in moving towards the $50 level in absence of strong forces and will be very volatile. …Read More

Natural Gas

The bearish pressure in the market continued in Friday’s session with prices breaking down towards the $2.85 level. Recent upside movement was caused by the speculation of supply gets disrupted due to Hurricanes, but now all the dangers are over. The prices will correct itself to the logical level with strong resistance of $3 in the upside and near term support of $2.85 mark. …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.