Commodities Daily Forecast – September 5, 2018

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Published: Sep 5, 2018, 06:54 UTC

Gold The gold prices fell during the Tuesday's session breaking below the $1200 level, reaching the $1195 level. The market is witnessing a lot of

Commodities Daily Forecast – September 5, 2018

Gold

The gold prices fell during the Tuesday’s session breaking below the $1200 level, reaching the $1195 level. The market is witnessing a lot of weakness in the wake of strengthening USD and weakness of other major currencies. The $1190 underneath is a major support region for the gold market, and if it breaks below this level, then it would go to the $1280 level. Rallies in these conditions are likely to be sold off extensively. …Read More

Silver

The silver market fell through the Tuesday’s session reaching down to the $14.20 level, as strength in the USD is breaking this market lower. The $14 level underneath is a strong support zone and is likely to see a lot of buyers around the region and in the long-term charts, it is also indicating as a bottom of the market. Given enough time, this market will resume its rally towards the high. …Read More

WTI Crude Oil

The crude oil market witnesses a major reversal of the trend in the yesterday’s session as it sliced through the $70 level after initially going as high as $71.40 during Asian trading. Later in the day, it reached down to the $69.50 level, which is one of the strong support zones. Going forward, the crude prices are likely to trade with a negative bias and will reach down to the $68.50 level, which is its next major support level. …Read More

Natural Gas

The Natural Gas prices were initially positive during the yesterday’s session but later in the day, it started to drift lower. Going forward, the market is expected to trade range bound between the $2.82 level and $2.95 level. With the absence of any strong fundamentals, natural gas will continue to trade negatively with rallies in the market will continue to offer a nice selling opportunity. …Read More

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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.