Forecasts & Analysis | Commodities, Page 4
Asia Wrap: We Know China Is Sneezing But Will The Rest Of The World Catch A Cold
Caution reigned supreme today in markets as Wuhan went into shutdown and those that were unfortunate enough to have China risk to cover were forced to do so amid dwindling liquidity on both the Yuan and SHCOMP.
Natural Gas Price Fundamental Daily Forecast – EIA Withdrawal Expected to Come in Well-Below 5-Year Average
Traders are looking for a lighter-than-average withdrawal for Thursday’s EIA storage report. Last year, the EIA recorded a 152 Bcf withdrawal for the similar week, and the five-year average is a withdrawal of 194 Bcf.
Price of Gold Fundamental Daily Forecast – Traders May Be Waiting for WHO to Declare Global Emergency
It’s funny. The news tends to lead investors to believe that gold is a buy when there is uncertainty and fear in the markets, but this type of thinking doesn’t seem to be working at this time.
Oil Price Fundamental Daily Forecast – Weak on Fear of Lower Demand
It looks like the coronavirus story is not going to go away over the near-term and actually conditions could worsen. It’s difficult for professionals to gauge the impact on demand at this time so we may not see a bottom until the speculators stop shorting the market.
Natural Gas Price Fundamental Daily Forecast – ‘Abundant Warmth’, Weak Demand Expectations Weighing on Prices
Shortly before the opening on Wednesday, the latest 15-day outlook came in “marginally warmer,” according to Bespoke Weather Services. The pattern still showed a likelihood for “abundant warmth in the northern half of the nation, with the South generally held closer to normal.”
Silver Price Forecast – Silver Markets Choppy On Wednesday
Silver markets went back and forth during the trading session on Wednesday, showing the continued lack of direction over the last week or so. That being said though, the market has plenty of technical levels to pay attention to.
Crude Oil Price Forecast – Crude Oil Markets Break Down
Crude oil markets broke down during the trading session on Wednesday, slicing through the last vestiges of support and looking very vulnerable at this point.
Natural Gas Price Forecast – Natural Gas Markets Gap Higher
Natural gas markets have gapped higher to kick off the trading session on Wednesday, as we may have value hunters entering into the markets. That being said, the market is very cheap at this point, and at this point it’s likely that we may get a bit of a “relief
Gold Price Forecast – Gold Markets Continue To Grind
Gold markets continue to go back and forth in general, as the market finds the $1550 level is an area of stability. This leads me to believe that we are probably going higher over the longer term, but things are awfully quiet right now.