Commodities Daily Forecast – September 19, 2018

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

Gold

The gold prices rallied initially during the day on Tuesday but fell through because of the volatility in the currency as well as equity markets. The $1210 level above is offering massive resistance just as $1200 level underneath is offering strong support. The market will continue to hang around this area and will be difficult for traders to make any position. …Read More

Silver

The silver market was extremely noisy during the Tuesday’s session and was the market for both buyers and sellers. Due to retaliatory tariffs by China, the whole commodity space is likely to be under pressure for quite some time. The silver market is likely to continue trading in a price range between the $14.10 level and $14.30 level, which is the strong resistance level. …Read More

WTI Crude Oil

The crude oil prices broke above the $69.50 level in the yesterday’s session reaching towards the $70 level, but due to strong resistance above, it pulled back from there. This is a large round, psychologically significant figure and there is a lot of concerns on demand due to increased tariffs. Volatility will be the mainstay in the market and $67 underneath is a strong support zone for the market. …Read More

Natural Gas

The natural gas prices sho higher during the yesterday’s session breaking above the $2.87 level. Because of this, it is expected that the market will see a lot of volatility and is likely to pull back from here. The $2.90 level above is massively resistive which extends up to $2.94 level. In case of breakdown, the $2.77 level underneath will offer strong support to the market. …Read More

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