Commodities Daily Forecast – July 11, 2018

By:

Published: Jul 11, 2018, 07:53 UTC

Gold The gold market wiped out the entire gain during the yesterday's session reaching down towards the $1250 level, an important support level but

Gold

The gold market wiped out the entire gain during the yesterday’s session reaching down towards the $1250 level, an important support level but bounced higher from there. The market from here is likely to attract buyers and push further higher. In the short term, the gold prices are likely to be more volatile and if it breaks the lows of the day, then this market is looking towards the $1240 level or even lower. …Read More

Silver

The silver market was extremely choppy during the yesterday’s session initially breaking lower towards the $15.90 level but bounced higher enough to reach towards the $16 level. If the market breaks above the $16.15 level, then it is a good sign for the market and will attract more buyers into the market. The $15.50 level underneath will continue to offer strong support that extends down to $15 level. …Read More

WTI Crude Oil

The crude oil prices were in an upside momentum during the yesterday’s session trying to move higher towards the $75 level and above. If it crosses above this level, then the market will try to reach towards the $77.50 level but will require strong momentum to reach there. The $72.50 level underneath will offer strong support to the market and is also acting as a floor. …Read More

Natural Gas

The natural gas market further dropped during the yesterday’s session reaching down to $2.80 level underneath which is an important support level. The market is likely to break further from here going down towards the $2.70 level, even possibly $2.60 level. Short-term rallies in the market will continue to offer selling opportunity in the market. …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.