Commodities Daily Forecast – September 28, 2018
Gold
The gold prices broke down significantly during the Thursday’s session, slicing through the crucial $1190 level. With USD gaining strength on the back of rising interest rates and favourable macroeconomics, the gold market is likely to continue under pressure. The $1180 level underneath is a strong support point and if it breaks, then next major support will be at $1140 level. …Read More
Silver
The silver prices broke down during the yesterday’s session reaching down to the $14.20 level as due to strength in the USD. It is unlikely that the market turnaround quickly from here and is likely to break further. The $14 level underneath is a strong support point and buyers will look to get involved in that region. …Read More
WTI Crude Oil
The crude oil market is getting enough support underneath to continue moving higher and given enough time, it is likely to reach towards the $75 level, as Iranian supply takes a hit on account of US sanctions. Pullbacks in the market will offer value with important support at the $71 level. …Read More
Natural Gas
The natural gas prices rallied significantly as reaching the recent high level as the inventory number came out very supportive. It needs to clear above the $3.10 level which has a massive resistance around, in order to continue higher. The $2.95 level has a crucial support and if it breaks down then it can reach as low as $2.75 level. …Read More
This article was originally posted on FX Empire
