Technical Update For Gold, Silver & WTI Crude Oil: 12.01.2018

Commodities Daily Forecast – August 22, 2018

Gold

The gold prices managed to break above the $1200 level in the Tuesday’s session but pulled back slightly. The break above $1200 level is a very good sign for the market and will continue to attract buyers into the market. If the gold prices break above $1210 level in a few sessions, it will be a positive development and indicate a reversal of trend. …Read More

Silver

The silver prices rallied a bit during the yesterday’s session but continue to experience weakness around the $14.80 level. The resistance extends up to the $15 level and until the market clears above the $15.10 level, silver prices will continue to be under pressure and. With USD losing value against most of the currencies, silver prices are also likely to witness strength. …Read More

WTI Crude Oil

The crude oil prices rallied slightly during the yesterday’s session reaching towards the $66 level indicating of a strong buyer’s activity. If the crude prices break above $66 level then next major resistance will be at $66.50 level which will be difficult for the market to cross above. If it breaks down below the $65 level, then it will be a complete change of trend and market will roll over significantly. …Read More

Natural Gas

The Natural Gas prices rallied higher during the Tuesday’s session reaching towards the $2.97 level but pulled back slightly from there. The $3 level above is massively resistive and the market will continue struggling to break above this point. Any signs of exhaustion in the market will attract sellers into the market and will hammer the prices down to the $2.70 level. …Read More