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Commodities Daily Forecast – July 10, 2017

By:

Colin First

Updated: Jul 10, 2017, 10:46 GMT+00:00

Gold Gold prices continued their fall on Friday as the dollar strengthened across the board on the back of strong NFP data. The gold prices have broken

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Read what the experts are trading this weekExclusive analysis from FXEmpire top analysts — curated insights you won't find on the free site.

Gold

Gold prices continued their fall on Friday as the dollar strengthened across the board on the back of strong NFP data. The gold prices have broken through the key support at 1220 which prompts the traders to look much lower as far as the prices are concerned. The prices are under the control of the bears and there does not seem to be a way back for the bulls in the short term. …Read More

Silver

Silver prices also moved lower, in line with the gold prices, and we had been mentioning this in many of our forecasts. The market is a bit careful after seeing the flash crash in the early hours of Friday but with the prices having moved below $16, the control has passed on to the bears. …Read More

WTI Crude Oil

Crude oil prices also moved lower during the course of the day on Friday as the supply concerns and the crisis in the Middle East continue to haunt the oil markets. The time is approaching for the bulls to make a stand or they risk of failing and allowing the bears to take control. It will be a keenly watched battle in the coming days. …Read More

Natural Gas

There was a larger than expected build in the gas resources and this coupled with the weekend weather has led to some choppy trading over the past couple of days which has continued this morning as well. Traders would want to wait till this choppy action is sorted out before getting into trades. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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