Commodities Daily Forecast – September 18, 2018
Gold
The gold prices rallied during the Monday’s session reaching towards the $1210 level. This area has been a lot noisier in the past few session and the market is facing extreme difficulty in moving higher. The trade war fears and strengthening of the USD will continue to be a major issue for the market. It is expected that the market will move in the range of $1195 level and $1210 level, in the short term period. …Read More
Silver
The silver market rallied significantly during the yesterday’s session but continued to trade in a range bound fashion. The $14.35 level continues to offer strong resistance to the silver prices while $14.10 level underneath is offering strong support. The silver market is likely to continue trade in a range bound fashion as is tracking the movement of the gold market. …Read More
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WTI Crude Oil
The crude oil market continued to show positive momentum during the Monday’s session but the $70 level continued to offer strong resistance. It will be difficult for the market to break above the $70 range and is likely to correct up a bit to the $67 level, which is one of the major support levels. Going forward, the market will continue to be volatile and will be influenced by the trade dispute between the US and China. …Read More
Natural Gas
It has been very difficult to analyse the current momentum for the Natural Gas counter as in the yesterday’s session, it broke above to reach towards the $2.80 level with strong momentum. It is likely that the market will turn around from here. It is likely that the $2.75 level underneath will offer strong support which extends down tot he $2.70 level. …Read More