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Commodities Daily Forecast – September 4, 2017
By:
Gold The gold prices were slightly weak at the start of the session on Friday but found enough support near the $1320 level to turn around. The prices
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Gold
The gold prices were slightly weak at the start of the session on Friday but found enough support near the $1320 level to turn around. The prices were also supported by weak US job data which released on Friday. Going forward, the buying on dips will be the right strategy to play this market and worsening geopolitical situation in Korean Peninsula will also support the market to go higher. …Read More
Silver
The silver prices went sideways most part of the day but as the US job figures came out, the market inched higher towards the $17.50 level. Going forward, the strong momentum likely to continue with $18 as a next target for the market. Buying on dips will be the right strategy to play this market. …Read More
WTI Crude Oil
The crude prices initially fell on Friday but support near the $46.50 level helped to turn around and rally. The recent correction in the prices is more to the reaction to Hurricane Harvey which led to closing down of refineries in Texas region. Looking ahead, in short term, the momentum of the market is upside with sell off from the higher levels. …Read More
Natural Gas
The Natural Gas prices were initially in the sideways direction on Friday but fell towards the $3 region only to rebound towards the $3.10 on the latter part of the day. The buying pressure in the market is mainly due to the effect of Hurricane Harvey. As we move forward, the market is expected to correct itself with the buildup of selling pressure from the $3.10 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.
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