Commodities Daily Forecast – September 7, 2018

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Published: Sep 7, 2018, 07:48 UTC

Gold The gold was extremely volatile during the Thursday's session, initially breaking above the $1210 level but due to resistance above it gave back all

Gold

The gold was extremely volatile during the Thursday’s session, initially breaking above the $1210 level but due to resistance above it gave back all the gains. The $1200 level underneath is offering a bit of support to the market and the gold market is going to struggle going higher due to strength in the USD. The market needs to break above the $1212 level and $1215 level in the short term, in order to gain enough bullish momentum. …Read More

Silver

The silver prices initially rallied during the yesterday’s session but due to strong resistance above, it fell through. The gold prices are also witnessing weakness, which affects sentiments of all other precious metal counters. If the market breaks above the $14.40 level, then it will attract buyers into the market and $14 underneath is the strong support region, also acting as a floor of the market. …Read More

WTI Crude Oil

The crude oil prices broke down during the yesterday’s session reaching the $67.50 level after reaching as high as $69 level. The market looks to continue going lower as there are lot of uncertainties relating to the demand of crude oil and slowing down of global growth. In the current scenario, every rallies in the market will offer a nice selling opportunity. …Read More

Natural Gas

The Natural Gas market continued to trade noisy during the yesterday’s session, as it reached down towards the $2.78 level, one of the important support levels. If the market continues to trade with negative sentiment, then it will reach further down towards the $2.70 level. In the short term, every rally will offer a nice selling opportunity as the market continues to be fundamentally 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.