Commodities Daily Forecast – September 20, 2018

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Published: Sep 20, 2018, 08:38 UTC

Gold The gold prices rallied again during the Wednesday's session but it found $1210 level as too resistive to continue to go higher. The gold market is

Commodities Daily Forecast – September 20, 2018

Gold

The gold prices rallied again during the Wednesday’s session but it found $1210 level as too resistive to continue to go higher. The gold market is likely to continue to consolidate in the tight range of $1198 and $1210 until there is any significant improvement in the global macro situation. Ultimately, a break above the $1215 level will send the market towards the $1225 and $1230 level. …Read More

Silver

The silver prices continued to grind higher as it reached towards the $14.30 level in the yesterday’s session, which is also a beginning of significant resistance. The noise around the currency market and global equity market will keep all the commodity prices including silver under pressure. If it breaks above the $14.30 level, then the next target for the market will be at $14.50 level. …Read More

WTI Crude Oil

The crude oil prices reached towards the $70.50 level in the yesterday’s session but have not been able to break above the fresh new highs. This indicates that it will be difficult for the market to continue moving higher for too long and correction is expected. Also, as we move closer to the Iran sanction dates, this market will turn volatile and also will see an upward revision in prices until the gap of demand-supply stabilizes. …Read More

Natural Gas

The natural gas prices tried to move higher but is facing significant resistance around the $2.95 level, which extends up to the $3 level. Because of this, the natural gas price is likely to pull back a bit with initial support at $2.85 level and then at $2.78 level. So, moving forward is very difficult as sellers get very active in this range. …Read More

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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.