Commodities Daily Forecast – September 18, 2017

Colin First
Commodities

Gold

The gold prices are facing a lot of selling pressure from the $1370 level as the risks related to the geopolitical tensions are getting worn out. In Friday’s session, the gold market fell significantly breaking below the $1330 level and testing the $1320 level. The market is expected to continue its bearish trend and may probably test its next support at $1300 level. If the market fails to retain the $1300 level, then the gold market may crash. …Read More

Silver

All the precious metal counter including silver are witnessing a sharp decline in prices as the boost from risk-off trade is getting soft. The silver prices fell significantly towards the $17.50 level. In weekly candle chart, the silver has formed a shooting star signal which is a bear signal in the bull market. The $17.50 and $17.80 is an important support and resistance level for the market and either side break will result in huge price movement. …Read More

WTI Crude Oil

The crude market turned volatile during the Friday’s session as it struggled near the $50 level. Technically, the market will find buyers only if it breaks above the $50 level with strength. Right now, the market is very difficult to trade as it is moving in a  narrow range and should wait for any specific trend. …Read More

Natural Gas

The natural gas prices fell as it found massive resistance near the $3.10 level in Friday’s session. The market is right now just above the $3 level and if it breaks this level, then we may see strong selling pressure in the counter towards the $2.85 level. Traders are required to be a bit cautious in this market as it will be extremely volatile as we go forward. …Read More

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