Advertisement
Advertisement
Commodities Daily Forecast – September 29, 2017
By:
Gold The bearish pressure on the gold market continued through the day on Thursday falling towards the $1275 level again. As the Fed's hawkish view on
Gold
The bearish pressure on the gold market continued through the day on Thursday falling towards the $1275 level again. As the Fed’s hawkish view on tightening of the balance sheet and expected rate hike later this year, the dollar is gaining strength which in turn affecting the gold prices. And, also the softening of geopolitical tensions is resulting the market to get rid of earlier executed risk-off trade. Right now, if the market breaks the $1275 level, then it will move towards the $1250 and resistance will be $1300 level. …Read More
Silver
The silver market went back and forth on Thursday’s trading session, falling towards the $16.65 level. On the higher side, $17 will be a strong resistance zone and break below the $16.65 level will take this market down towards $16.50 level. Meltdown in precious metal counters and strength in the dollar is going to build pressure to the silver price. …Read More
WTI Crude Oil
The crude prices shot higher during the day on Thursday, breaking above the $52.50 level but failed to retain the level above and turned back. The crude market tends to be extremely volatile due to lots of noise around it. If the crude price breaks below the $51.75 level, then selling pressure will take the market further lower. …Read More
Natural Gas
A day after the gap up above the $3 level, the natural gas prices have started to drift lower on Thursday’s session. If it breaks below the $3 level, then it will look to fill the gap and will move towards the $2.91 level. The market is extremely volatile and traders are advised to exercise caution as there is a lot of unexpected moves in the counter. Overall, the market will tend to remain weak for a long period of time. …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.
Did you find this article useful?
Latest news and analysis
Advertisement