Commodities Daily Forecast – September 21, 2017

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Published: Sep 21, 2017, 07:35 UTC

Gold The gold market gained some strength from the lower levels on Wednesday's session as the market was waiting for the outcome of Fed's meeting. Now,

Commodities Daily Forecast – September 21, 2017

Gold

The gold market gained some strength from the lower levels on Wednesday’s session as the market was waiting for the outcome of Fed’s meeting. Now, the Fed has indicated to start the shrinking of its huge balance sheet early, the gold price will probably fall. It has strong support near the $1300 level and if it breaks below this level, then it will be very negative for the market and may go towards the $1250 level. …Read More

Silver

The silver market was initially sideways during the session on Wednesday, as the market was waiting for the outcome of Fed’s meeting. Going through the technical chart, the silver has strong resistance above the $17.50 level and if it breaks above this area then the market will move towards the $18 level. Now, with the outcome of Fed’s meeting, the market is likely to consolidate around the lower level with $17 as a strong support zone. …Read More

WTI Crude Oil

The crude prices started on a positive note on Wednesday’s session, as it gapped higher clearing the $50 level and retained the level with continuous buying. We will see some buying pressure from this level and if it breaks the $51 level then next target for the market will be $55. Any short-term dips will be a good buying opportunity until it breaks the $49 level below. …Read More

Natural Gas

The natural gas prices were very volatile during the session on Wednesday as it tested the $3.10 support level. The market has now successfully retained the area above $3.10 for the last couple of session now, it is expected the market to touch the $3.20 level in short term. Any break below the $3.10 level will take the market 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.