Commodities Daily Forecast – February 18, 2019
Gold
The gold prices rallied significantly during the Friday’s session, reaching towards the $1325 level. The market has plenty of resistance around this zone and could witness a pullback. The weak economic numbers from the US and the Fed’s dovish attitude will keep supporting the gold prices higher and a break above $1325 level would send it towards $1350 level. …Read More
Silver
The silver prices gapped higher during Friday’s session after testing for the support at the $15.50 level in the previous session. A break above the 50 Day EMA would provide significant strength to the market to break higher above the $16 level. Breaking below the $15.50 level would be very negative and would send the market towards the $15 level. …Read More
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WTI Crude Oil
The crude oil prices have broken above the much resistive $55 level in the Friday’s session and continuing to gain momentum. The next major resistance will be at $58 level and pullbacks will continue to be a nice buying opportunity. If it breaches the $55 level again, then it could fall towards the $53.50 level. …Read More
Natural Gas
The Natural Gas prices moved a little bit higher during Friday’s session but is continuing to witness a lot of selling pressure. The market is likely to continue bearish and could reach down to the $2.50 level in the next several session. A break below this level would be catastrophic and would send the natural gas prices down to $2 level. Rallies in the market would continue to be a nice selling opportunity. …Read More