Commodities Daily Forecast – September 13, 2018

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Published: Sep 13, 2018, 07:29 UTC

Gold The gold market was volatile during the Wednesday's session, initially dropping to the $1194 level and then bounced higher. The gold price is

Commodities Daily Forecast – September 13, 2018

Gold

The gold market was volatile during the Wednesday’s session, initially dropping to the $1194 level and then bounced higher. The gold price is affected by the strength of the USD, which is going to continue for some more time. If the market breaks above the $1205 and $1208 level, then it can reverse some amount of the bearish pressure of the market. Buying in this area for long-term continues to be a nice tradeoff to investors. …Read More

Silver

The silver prices were relatively quiet during the Wednesday’s session as it traded on a very tight range. The market needs to break above the $14.25 level in order to continue moving higher. With silver prices are highly aligned with the gold market, the road ahead for the silver market will be very difficult due to the bearish condition in the gold prices. If it breaks below the $14 level, then it likely to reach towards the $12 level. …Read More

WTI Crude Oil

The crude oil prices exploded higher during the Wednesday’s session as it reached towards the $71 level. This level has been extremely resistive in the past and this time also will be difficult for the market to cross above. The market is expected to continue as the inventory number came out are on the much higher side than expected. If it breaks above the $71 level, the next target will be at $72.50 level. …Read More

Natural Gas

The Natural Gas prices initially tried to move higher but due to strong resistance above, it pulled back a bit. The market is expected to consolidate between the range of $2.70 and $2.78 in the next few sessions. Currently, the market is lacking any significant momentum and will be difficult to make a profitable trade. …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.