Commodities Monday

Commodities Daily Forecast – January 11, 2018

Gold

The gold prices initially went sideways during the Wednesday’s session but then bounced higher to reach the $1325 level, which is a bit resistive. A break above from here will attract a new set of buyers into the market which will take it towards the $1350 level, meanwhile pay attention to the US dollar which has a greater influence in this market. Going ahead buying on dips will be a good strategy to play this market. …Read More

Silver

The silver prices found enough momentum during the Wednesday’s session to go higher and breaking above the $17 level. The short-term pullback in the market is going to offer significant value to the traders as $16.90 level underneath is massively supportive and could eventually go towards the $17.25 level. Keep an eye on the dollar movement and the gold prices to figure the general trend in the silver prices. …Read More

WTI Crude Oil

The crude oil prices went sideways through the Wednesday’s session as it traded with a slight negative bias. In the short term, the crude prices are bit overextended and is likely to pull back a little. Buying in dips will offer value as traders will be interested in taking advantage of the volatility. There are a lot of factors working in favour of crude, with production cuts from OPEC and non-OPEC members to softening of US Dollar. …Read More

Natural Gas

The natural gas prices traded in a range bound fashion near the $3 level during the Wednesday’s session. This is an area where the market faces a lot of noise and every time gets hammered down from these level. The $2.75 level is going to be the important support level for the natural gas market with rallies as a nice selling opportunity. Unless this market breaks above the $3.10 level, the bullish pressure is likely to elude the market. …Read More