Yahoo Finance Commodities Daily Forecast – August 18, 2017
Gold
The gold market initially went higher towards the $1290 level, from where it corrected earlier. The market is very close to the higher-level from where it is expected to have some downward pressure on it. As earlier mentioned, if it breaks the $1300 level, then only the market will move higher or if it fails to sustain the $1300 mark it will see dip towards $1265 level. …Read More
Silver
The silver market crossed the $17 level successfully during the early movements in Thursday, which was the key resistance zone. And, the market is comfortably above the $17 level which is acting as a support. Looking forward, we expect the market to move higher towards the $17.25 level. If it closes successfully above the $17.25 then it will make markets to go higher towards the $17.50 level. The market has key support at $16.75 and $16.50 level. …Read More
WTI Crude Oil
The downward pressure in the crude market continued during the day on Thursday but found support near the $46.50 level. The market has turned negative and it is expected to continue in the same fashion. The $47.50 offers a bit amount of interest in the market. The Baker Hughes Rig Count data coming out which shows how many drillers are active in America. If the count comes higher then it will cause some amount of resistance in the market to go higher. …Read More
Natural Gas
The natural gas counter went sideways during the most part of the day and then dipped towards the $2.85 level. Every upside in this market is viewed as a selling opportunity. The massive resistance it has built around the $3 level is failing it to go higher. Looking ahead, the market is looking to go lower and it will have its next immediate support around the $2.75 level. …Read More
This article was originally posted on FX Empire
