Commodities Daily Forecast – September 27, 2018

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Published: Sep 27, 2018, 08:22 UTC

Gold The gold prices dropped lower during the Wednesday's session breaking below the $1200 level. There is a lot of support for the market around this

Gold

The gold prices dropped lower during the Wednesday’s session breaking below the $1200 level. There is a lot of support for the market around this region which extends down to the $1190 level. The gold market is likely to continue under pressure in the short to medium term and will also remain volatile. Going forward, the $1205 level and $1210 level will offer a bit of resistance to the market. …Read More

Silver

The silver market lost the bullish momentum in the yesterday’s session and sliced through the crucial $14.50 level, reaching down to $14.30 level. Because of this, the market is likely to remain volatile and noisy. Currently, the silver is highly sensitive to the USD and likely continue trade in a back and forth momentum. The $14.30 level is going to offer strong support and if it breaks below, the next major support is at $14 level. …Read More

WTI Crude Oil

The crude oil prices pulled back slightly during the yesterday’s session ahead of the FOMC meeting outcome, perhaps due to the currency headwinds ahead of the meeting. The oil price is likely to continue higher due to the mismatch in the supply-demand equation as Iranian sanction closes in. If the crude oil prices break above the $73 level, then it will easily reach towards the $75 level. …Read More

Natural Gas

The natural gas market lacked momentum in the yesterday’s session and continued sideways. The $3.05 level continues to offer strong resistance and if it could break above this level, then it can easily reach up to the $3.10 level and $3.20 level. Any signs of exhaustion in the market will attract sellers and will break down towards the $2.90 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.