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Commodities Daily Forecast – September 14, 2018

Colin First
Commodities Daily Forecast – September 24, 2018

Gold

The gold market rallied significantly during the Thursday’s session reaching towards the $1215 level after US reported a weaker set of CPI numbers. From here, the market is likely to target for the $1225 level, which is a major resistance point. The market overall is expected to be volatile and $1210 level underneath is expected to provide support. …Read More

Silver

The silver prices rallied during the yesterday’s session as weakness gripped the USD on the back of weaker CPI numbers. If the market breaks above the $14.40 level, then it is going to reach towards the $14.80 level next, which is its next major resistance level. There is a short-term support at the $14.20 level in the market and is unlikely to break in the near term. …Read More

WTI Crude Oil

As expected the crude oil price faced resistance at the $71 level and broke lower reaching towards the $69 level. This is largely due to stronger than estimated inventory numbers. If the market breaks down below the $69 level, then it can easily reach down to the $67.50 level, which is acting as a floor of this market from past several sessions. …Read More

Natural Gas

The Natural Gas prices initially went sideways during the yesterday’s session but later on turned around trying to break above the $2.85 level. The market is consolidating between the $2.70 and $2.90 level and is expected to continue for some amount of time until demand rises. …Read More

This article was originally posted on FX Empire

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