Forecasts & Analysis | Commodities, Page 14
Is the US/China Trade Deal Being Just A Detente?
There were very mixed headlines to start the day. US drafting rules to block more sale to Huawei while China vows to punish firms who infringe on trade secrets, according to the New York Times. But I think after two years of trade war noise, hopefully the markets have learned
However, removing China from the currency manipulator list, a thorny issue for the mainland , eliminates one of the significant obstacles in the way to the next phase of the comprehensive agreement.On the more one-sided tails for Asian FX, particularly in the more trade/ growth/tech-oriented North. China is expected to
Crude Oil Price Update – Strengthens Over $58.80, Weakens Under $57.79
Based on yesterday’s price action and the current price at $58.08, the direction of the March WTI crude oil market on Wednesday is likely to be determined by trader reaction to a pair of 50% levels at $58.80 to $57.79.
Gold Price Futures (GC) Technical Analysis – Best Value Zone Target $1533.20 to $1514.30
Gold is not bearish, it’s just looking for value. So are the major players. The spike to the upside was driven by light volume and headlines. The real buyers don’t chase gold. They wait for pullbacks into support. That’s why $1533.20 to $1514.30 is the key area to watch for
Silver Price Forecast – Silver Markets Pull Back On Tuesday
Silver markets pulled back a bit during the trading session on Tuesday to go looking towards the $17.80 level. Furthermore, the 50 day EMA underneath is starting to rally just a bit, so it’s very likely that technical traders will pay quite a bit of attention to this area.
Crude Oil Price Forecast – Crude Oil Markets Continue To Test Fair Value
The crude oil markets went back and forth during the trading session on Tuesday but are showing signs of support so that of course is a good sign. We are oversold in the short term, so a bounce is possible.
Natural Gas Price Forecast – Natural Gas Markets Take Off On Tuesday
Natural gas markets rallied significantly during the trading session on Tuesday, breaking above the $2.20 level. Ultimately, the market still has plenty of resistance above.