Commodities Daily Forecast – September 12, 2018

Colin First

Gold

The gold market has fallen significantly during the Tuesday’s session, breaking below the $1195 level but later in the day, it was showing signs of resiliency. The market is affected by somewhat bearish forex market and also strengthening of USD. If the gold prices break below the $1190 level, then it will go much lower probably towards the $1140 level. …Read More

Silver

The silver prices continued to be very volatile as it reached towards the $14 level in the yesterday’s session. The strength in the USD is keeping the whole metal pack under pressure and is likely to continue in the short term. If the market breaks below this level, then it will be extremely negative and is likely to move down towards the $12 level. …Read More

WTI Crude Oil

The crude oil market continued to witness a lot of volatility as in the yesterday’s session it went higher only to find resistance around the $69.50 level. Currently, the market is lacking momentum to break above the $70 level and will continue to trade range bound between the $67.50 level and $70 level. …Read More

Natural Gas

The Natural Gas prices went lower during the Tuesday’s session reaching towards the $2.70 level, which is one of the strong support points. The market is unlikely to witness any bullish rally in the short term and will continue to trade with a negative proclivity. The $2.78 level above is a strong resistance point and will be difficult for the market to break above. …Read More

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