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Commodities Daily Forecast – September 6, 2017
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Gold Initially, the gold market showed some signs of weakness but then found enough support from the lower level to turn around higher. The market is
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Gold
Initially, the gold market showed some signs of weakness but then found enough support from the lower level to turn around higher. The market is trying to break the $1330 level which will fuel more upside movement towards the $1350 and $1400 level eventually. Pullbacks will provide good buying opportunity into the market given the geopolitical concern and weak dollar. …Read More
Silver
The silver market was initially in a sideways movement on Tuesday but then rallied towards the $18 level showing strong momentum. The silver prices might face significant resistance around that level and may attempt several pullbacks before crossing it. Support for the market is now at $17.75 level. Longer term view of the market is positive and continue to go higher towards the $18.50 level. …Read More
WTI Crude Oil
The crude prices exploded higher towards the $49 level on Tuesday’s session. The move can due to the Cat-5 hurricane that is now heading towards the Gulf of Mexico and likely to cause disruptions in the deep sea crude productions. Looking ahead, this spike is some sort of short term move with resistance at $50 level and eventually will be corrected after the market settles. …Read More
Natural Gas
The Natural Gas counter broke below the crucial $3 level during the Tuesday’s session. This downward movement in the price was expected and as the market is below the $3 level, selling will continue. The market looks to settle down after the devastating Hurricane Harvey in Texas and now sell on rallies will be the best strategy to play this market as fundamentals are quite a bit weak. …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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