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Commodities Daily Forecast – September 4, 2018

By:
Colin First
Published: Sep 4, 2018, 09:23 UTC

Gold The gold prices had a stable trading session on Monday, as it continued to hover around the $1207 level. The strengthening in the USD in the past

Technical Update For Gold, Silver & WTI Crude Oil: 12.01.2018

Gold

The gold prices had a stable trading session on Monday, as it continued to hover around the $1207 level. The strengthening in the USD in the past several sessions had adversely impacted the gold prices. Going forward, the gold prices are likely to trade rangebound with $1215 level offering stiff resistance and $1190 level underneath, a strong support zone. A break above the $1215 level will send the market towards the $1225 level and then eventually break above. …Read More

Silver

The silver market was sideways through the Monday’s session without showing any significant momentum, possibly due to lack of liquidity in the market. The $14.50 level is offering strong support to the market and is likely to bounce higher from here. In the short-term, the market continues to trade with a negative bias and if it breaks from here, then the $14 level underneath will offer strong support. …Read More

WTI Crude Oil

The crude oil prices rallied slightly higher during the yesterday’s session towards the $70 level. The market was overall silent due to lack of liquidity as the American market was closed on account of Labor Day. The break above $70 level will be important and will probably send the market towards the $75 level. Underneath the $69.50 level continues to offer strong support to the market. …Read More

Natural Gas

The Natural Gas prices gapped lower during the yesterday’s session and reached down significantly towards the $2.85 level. In the hourly chart, it is showing a hammer like formation and is likely to bounce from here, but the $2.90 level continues to offer strong resistance. If the natural gas prices further break from here, then it will be reaching down towards the $2.81 level. …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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