Commodities Daily Forecast – September 11, 2018

Colin First
Technical Update For Gold, Silver & WTI Crude Oil: 12.01.2018
The container terminal at dusk

Gold

The gold prices fell initially during the Monday’s session but later bounced as it found enough support around the $1194 level. By doing this, it has formed a double bottom pattern, which is a bullish indication for the market. If the gold prices break above the $1205 and $1210 level comfortably, then more buyers will enter the space. …Read More

Silver

The silver prices continued to trade in a range bound fashion as the $14.30 level has been a resistance and $14.10 level underneath offering a bit of support to the market. The silver prices are currently influenced by the strength in the dollar on the back of strong job numbers. If the market breaks above the $14.35 level, then it can easily reach towards the $14.50 level and higher. …Read More

WTI Crude Oil

The crude oil prices rallied a bit during the Monday’s session gaining around 1 per cent. Currently, the market looks very confused about its direction and will continue to trade in the range-bound pattern. The $69 level continues to offer strong resistance and $67.50 level underneath is a strong support level for the crude oil market. …Read More

Natural Gas

The Natural Gas traded with a negative proclivity during the yesterday’s session, testing the $2.75 level for support. The market has a major support level at $2.70 level and has seen a lot of buying around that region. However, if it breaks below this point, then it will move further lower towards the $2.60 level and $2.50 level. The market will find enough difficulty in rallying above from here. …Read More

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