Commodities Daily Forecast – February 22, 2018
Gold
Overall the gold prices were quiet and stable during the Wednesday’s session as it continues to see support near the $1325 level. Given the present neutral stance of the market, the prices are likely to continue trying going higher towards the $1350 level again. If the prices further break down, then $1300 level will provide a major support to the market. …Read More
Silver
The silver prices rallied significantly during the yesterday’s session gaining as much as by 1 percent. Given enough time, the market will bounce higher possibly reaching towards the $17 level. The $16.40 level underneath is going to be supportive which will offer some type of buying pressure. Given the anti-dollar sentiment in the market, the silver prices will find enough buying pressure. …Read More
WTI Crude Oil
The crude oil prices continued weak during the Wednesday’s session as it tried to find support near the $61.50 level. The market is losing positive momentum and given enough time, the crude prices will roll back, possibly looking towards the $60 level and much below. Given the weak fundamentals of the market, any short-term rally in the market will attract sellers which further hammer the prices down. …Read More
Natural Gas
The natural gas prices initially dipped lower during the yesterday’s session reaching towards the $2.60 level as it offered a bit of support. The market bounced a little from there which could attract sellers. Due to weak fundamentals because of weak demand and massive oversupply, the market will remain under pressure and any rallies will attract sellers to hammer the prices further down. …Read More
This article was originally posted on FX Empire
