Commodities Daily Forecast – September 19, 2017

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Updated: Sep 19, 2017, 08:14 UTC

Gold The gold prices broke significantly on Monday's trade session and went lower towards the $1300 level. Now, the market has strong support near the

Gold

The gold prices broke significantly on Monday’s trade session and went lower towards the $1300 level. Now, the market has strong support near the $1300 level, it is likely to bounce back higher. The market will be sell in rallies as the risks associated with the global market is now softening. A breakdown below $1300 will be quite negative for the market. …Read More

Silver

The silver market broke down during the Monday’s session slicing through the $17.50 level. The fall was expected as precious metals around the world is losing sheen as risk-off trade has abated. The market is likely to continue facing selling pressure until it breaks above the psychological level of $17.50. The market is expected to be volatile in the next couple of session with downward pressure. …Read More

WTI Crude Oil

The crude market initially tried to volatile but found enough resistance above the $50 level and turned around below towards $49.50 level. Technically, the market will find buyers only if it breaks above the $50.50 level with strength. And, if it breaks below the $49.50 level then next target for the market will be $48.50 level. Right now, the market is very difficult to trade as a lot of news are affecting the movement in prices. …Read More

Natural Gas

The natural gas prices shot higher during the Monday’s session breaking above the massively resistive $3.10 level. The breakout above $3.10 is a very positive move and the market is likely to tread higher towards the $3.20 level in short term. And, if we break below the $3.10 level again, then sellers will try to break the market lower towards the $3 level. …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.