Forecasts & Analysis | Commodities, Page

Based on last week’s close at $55.98, the direction of the April WTI crude oil futures contract this week is likely to be determined by trader reaction to the downtrending Gann angle at $56.01.

Based on last week’s price action and the close at 7063.75, the direction of the March E-mini NASDAQ-100 Index this week is likely to be determined by trader reaction to the Fibonacci level at 7022.25.

Based on the early price action, the direction of the AUD/USD the rest of the session is likely to be determined by trader reaction to the Fibonacci level at .7153.

Rangebound action in favor of Euro to continue owing to a silent macro calendar on both sides of the pair.

The direction of the USD/JPY the rest of the week is likely to be determined once again by Treasury yields and the stock market. These market are likely to be largely influenced by U.S.-China trade negotiations. However, investors will also get a chance to react to the latest Federal Open

This week, the economic news shifts back to the Australian Dollar. The week will start with the Aussie supported by the resumption of trade talks between the United States and China, but this time in Washington. Both parties cited progress in last week’s trade talks which took place in Beijing.

DASH sees a bullish start to the day but faced resistance early to ease back. A break back through to $79 levels would give DASH a run at $80.

Here come the bulls… Late Sunday’s rally spills over to the early hours of this morning. Holding onto key levels would support more upside in the day.

The evidence is in and we have to conclude that gold isn’t breaking sharply because the U.S. Dollar is not that strong. Therefore, demand for dollar-denominated gold should not be dropping as one may think. The data clearly shows that as a gold trader, you shouldn’t be worried about the

The OPEC cuts are not about turning crude oil into a raging bull market, but rather to drive prices into a balance area. Currently, both WTI and especially Brent crude oil are within striking distances of that area.

Traders are watching the current weather patterns because they be following the patterns from last year, where extremely cold temperatures hit the markets in late March and early April. Bullish traders may increase bets on this pattern repeating. Bearish traders are betting that last year’s pattern will not repeat.

A mixed start to the day across the majors could test investor resilience later in the day.

It’s a mixed start to the majors, with the bulls in need of a weekend rally to get out of the current rut that’s ping the majors back of late.

Soft economic data and lower yields give stocks a lift

Cold weather buoys Natural gas

Soft US and Chinese Data is Helping to Buoy Gold Prices

The S&P 500 rallied significantly during the week, reaching towards the resistance above at the 2800 level. We have not broken above there yet though, so I think that we could be up for a serious fight soon.

Silver markets fell during most of the week but did find support towards the end of the day on Friday, showing signs of hope. At this point, we have a couple of things to pay attention to determine where we go next.

Crude oil markets rallied significantly during the trading session on Friday to send this market above what has been massive resistance. Because of this, I think that the market is poised to go higher as we have been flirting with that level for quite some time.

Natural gas markets continue to grind during the week, going back and forth between a couple of levels. We are at extraordinarily low pricing at this point though, so it’s very likely that we need to see some type of bounce to start selling. As far as buying is concerned,