Commodities Daily Forecast – April 17, 2018
Gold
The gold prices managed to move higher to reach the $1350 level after initially pulling back. The short-term resistance in the market is placed at $1353 level and if it clears then the gold prices should reach $1360 level and above. In the lower side, the $1335 level offers a strong support and is unlikely to be broken. A clearance above $1400 level will be a buy and hold position for traders. …Read More
Silver
The silver prices initially pulled back to reach down towards the $16.56 level but bounced higher reaching towards the $16.75 level. If it can break above this level, then next target level will be $16.85 level. Pullback in this market will be a nice buying opportunity with $16.40 level and $16.25 level is a strong support level. …Read More
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WTI Crude Oil
The crude oil prices were volatile during the Monday’s session reaching towards the $66 level before bouncing a bit. The market looks a bit overextended and will be on the lower side in next couple of session. Pullbacks will offer good opportunity to enter this market and $65 level is acting as a strong support level. A break above $67.50 level will send this market higher towards the $70 level. …Read More
Natural Gas
The natural gas prices gained a bit during the Monday session as Americans turned bullish on the market. The $2.80 level is acting as a strong resistance and signs of exhaustion in the market will attract sellers. If it can break above the $2.80 level then next target level will be $3 level. …Read More