Commodities Daily Forecast – September 24, 2018

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Published: Sep 24, 2018, 08:24 UTC

Gold The gold market had an extremely bearish session during the Friday's session as it rolled over to the $1200 level, which has been a major support

Gold

The gold market had an extremely bearish session during the Friday’s session as it rolled over to the $1200 level, which has been a major support level and extends down to the $1195 level. The market is highly synchronised to the USD and possibly to trade in a range bound manner in short-term and if it breaks below the important support line, then $1180 level can be expected. …Read More

Silver

The silver prices broke down during the Friday’s session reaching down to the $14.20 level but the uptrend line which running just beneath offered a good support. Moving ahead, the market is likely to trade in a back and forth movement and will be largely influenced by the USD and gold prices. The $14.50 level above offers a strong resistance to the silver prices. …Read More

WTI Crude Oil

The crude oil prices hovered around the $70 level in the Friday’s session which was offering a good support to the market. But, at the same time $71.50 level above looks to be extremely resistive. Significant volatility in the currency market, trade wars and Brexit issues are going to keep the market under pressure. Underneath, the $67 level is going to be the major support level for crude oil prices. …Read More

Natural Gas

The natural gas market was slightly bullish during the Friday’s session gaining around 0.1%. The $3 level is acting as the ceiling of this market and will be very difficult for the market to cross above. A break above can bring a sort of bullish sentiment into the market but will be difficult to sustain. The $2.85 level underneath is very supportive and is likely to trade in this range only. …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.