Commodities Daily Forecast – September 26, 2017

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Updated: Sep 26, 2017, 10:59 GMT+00:00

Gold The gold prices were initially in a sideways direction moving just below the $1300 level but spiked above the $1300 level at the end of Monday's

Gold

The gold prices were initially in a sideways direction moving just below the $1300 level but spiked above the $1300 level at the end of Monday’s session. The last moment spike was due to the risk-off trade because of escalating tensions between the US and North Korea. The market is expected to remain volatile as the market is getting used to such kind of geopolitical crisis. Going forward, the $1300 level will be the important region for the gold prices and the market is waiting to get some amount of clarity before it picks up any momentum. …Read More

Silver

The market had a very volatile session on Monday as the war of words between the US and North Korea escalated. But, the gains resulting from the geopolitical crisis is getting worn off too soon as the market is getting used to such circumstances. The market will find difficulty in maintaining the $17 level it had crossed and if it clears above the $17.25 level then it will be a bullish move. It is better to get some clarity before entering the market with risk-off trade as the probability of loss increases. …Read More

WTI Crude Oil

The crude market went higher above the $50.50 level during the Monday’s session on the reports of falling supply and inventory of crude. The market is well supported at the $50.50 level expending to $50 level. The market is expected to trade with a positive proclivity in next couple of sessions with a target of $52.50 in the short term time period. …Read More

Natural Gas

The natural gas prices entered a bearish phase on Monday’s session as it found difficult to hold the gains it had during the day. The market will be on “Sell on Rallies” strategy with a target of $2.85 in next couple of session. The Strong Build up of inventory despite the two Hurricanes is pulling the market downwards. The long-term view of the market is still negative with a target of $2.75 to $2.50 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.