Commodities Daily Forecast – January 14, 2019
Gold
The gold price was mostly sideways during the Friday’s session as it is trying to gain enough momentum to continue moving higher. A break above $1300 level would send the gold prices towards the $1400 level in the long term. Pullbacks in the market will continue to offer a nice buying opportunity with strong support running down at $1250 level. …Read More
Silver
The silver prices were mostly sideways in the Friday’s session as the $15.50 level underneath continues to offer strong support. The market will continue to witness buyers at the lower level and eventually will break above the $16 level. A break above $16 level would send the market towards the $17 level in the long term. In an alternate scenario, it silver prices breaks down below the $15.50 level, then it could reach down to $15.20 level. …Read More
WTI Crude Oil
The crude oil prices were sluggish during the Friday’s session as the $52.50 level above is offering a strong resistance. At the moment, 200 Day EMA is offering a strong resistance and it is likely that it will pull back down to the $50 level. A break above $52.50 level could send the crude prices towards the $58 level. …Read More
Natural Gas
The Natural Gas prices rallied significantly in the Friday’s session, reaching above the $3.20 level. Overall the market will continue to be volatile and if there are any signs of exhaustion in the market, then sellers would break the market down towards the $3 level. In an alternate scenario, if natural gas prices break above the $3.30 level, then it will easily reach towards the $3.50 level. …Read More
This article was originally posted on FX Empire
