Commodities Daily Forecast – September 20, 2017

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Updated: Sep 20, 2017, 08:43 UTC

Gold After the Monday's free fall towards the $1300 level, the market was cautious in Tuesday's session with sideways movement. The outcome of the Fed's

Gold

After the Monday’s free fall towards the $1300 level, the market was cautious in Tuesday’s session with sideways movement. The outcome of the Fed’s meeting today will now determine the trend in the gold prices. If it breaks below the $1300 level, then it will be very negative for the market and will probably test the $1250 level. And, if it moves above the $1330 level then buyers will enter the market. …Read More

Silver

The silver market was mostly sideways as it found support near the $17.10 level during the Tuesday’s session. The market’s expectation of the dovish outcome of Fed’s meeting will hold this market higher. The $17 level will continue to provide massive support to the silver prices and if it breaks below then it will very negative for the market. The break above $17.50 will help the market to go higher towards the $18 level. …Read More

WTI Crude Oil

The crude prices are facing a lot of resistance above the $50 level. On Tuesday’s session, the after breaking above the $50 level, it failed to retain the level and fell below. The market today will be a bit difficult to trade and will be volatile as both outcome of Fed’s meeting and Crude oil inventory announcement is scheduled. It is better to wait for an impulsive move before entering the market. …Read More

Natural Gas

The natural gas prices consolidated just above the 3.10 level on Tuesday’s session as the market is testing the strength of the rally. If the market holds the levels in next couple of session then the market will rally towards the 3.20 level. Overall, the fundamentals do not support the prices and in long run, it will eventually correct itself to logical levels below the $3 level. In the few session, markets will be volatile and bit difficult to 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.