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Commodities Daily Forecast – September 27, 2017

By:
Colin First
Updated: Sep 27, 2017, 09:08 UTC

Gold The bearish pressure on the gold market continued through the day on Tuesday as it fell back the $1300 level again. The risk-on trades on other major

Commodities

Gold

The bearish pressure on the gold market continued through the day on Tuesday as it fell back the $1300 level again. The risk-on trades on other major currencies are resulting the gold prices to crack which is already struggling for the past few days. Going forward, if the gold prices retain the $1300 level, then bullish momentum in the counter is likely to continue. …Read More

Silver

The silver market turned very negative during the Tuesday’s session, breaking below the $17 level towards the $16.85 level. If the market breaks below this level, then it will go further lower towards the $16.50 level. Overall, the weakness in all the precious metal counter and the strong dollar will be quite negative for this market. Until the silver prices break above the $17.25 level again, weakness will continue in the market with sell on rallies as a strategy to play this market. …Read More

WTI Crude Oil

The crude prices have gained significantly in the past 24 hours breaking above the $51.50 level. On Tuesday’s session, the market mostly consolidated around the $51.50 level as it is getting support around this area. Going forward, the market is expected to be volatile as crude inventory numbers will be released later today. Buying on dips will be a good strategy for this market until it remains above $50.50 level. …Read More

Natural Gas

The markets initially tried to rally but the prevailing bearish pressure in the market turned the market to give all the gains. The buildup of inventory even during the last two hurricanes has been very negative for the market and prices are expected to remain soft in the short term period. It has massive resistance above the $3 level with $2.85 and $2.75 will act as a support for this market. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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