Commodities Daily Forecast – February 23, 2018

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Published: Feb 23, 2018, 10:14 UTC

Gold The gold prices a revived a bit during the Thursday's session by breaking above the $1325 level again and is now looking towards to break above the

Gold

The gold prices a revived a bit during the Thursday’s session by breaking above the $1325 level again and is now looking towards to break above the $1335 level. The $1350 level will be the initial target for the market, however, the market needs the US dollar continue to soften to support the gold prices higher. In the alternate scenario, a break down below $1320 level will be negative for the market. …Read More

Silver

The silver prices initially went sideways during the trading session on Thursday but got enough bullish pressure to shot higher at the end of the session as the US dollar dropped. The US Dollar is now dominating this market in terms of price movement and $17 level above is going to be strong resistance point of this market. In the lower side, if this market drops below the $16.30 level, then the market could break further down towards the $16 level. …Read More

WTI Crude Oil

The crude oil prices showed signs of strength during the yesterday’s session as it shot higher reaching towards the $62.50 level. The market has plenty of resistance on the higher side and will attract a lot of sellers into the market. A break down below $60 level will send the prices much lower towards the $55 level. The strong dollar is a bit of double-whammy for this market and crude prices to rally in the short term. …Read More

Natural Gas

The natural gas prices were quiet and stable during the yesterday’s session as it hovered around the $2.70 level. The market could bounce from here reaching towards the $3 level which will attract a lot of sellers into the market. The $3 level is the ceiling of this market and will have an issue going beyond that. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.