Commodities Daily Forecast – July 13, 2018

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Published: Jul 13, 2018, 09:25 UTC

Gold The gold market started the session with weak momentum, but as the day passed it started to rally slightly. The $1250 level continues to offer a lot

Gold

The gold market started the session with weak momentum, but as the day passed it started to rally slightly. The $1250 level continues to offer a lot of interest in the market and if it fails to reclaim the level in the next few sessions, it will attract sellers into the market. A break above $1250 will send the market towards the $1265 level. …Read More

Silver

The silver bounced slightly during the yesterday’s session as the $15.75 level offered a bit of support. This is the same area which is offering support to the market for quite some time now. The market is likely to go higher from here but is likely to witness a lot of resistance above with $16.15 level is acting as a ceiling of the market. …Read More

WTI Crude Oil

The crude oil prices dipped lower significantly during the yesterday’s session settling around the $70 level, which offered a bit of psychological support. The market now has lost a significant amount of bullish momentum and if it breaks from here, the next major support will be at $68 level. …Read More

Natural Gas

The natural gas prices drifted slightly lower during the yesterday’s session reaching towards the $2.80 level. The market now lacks bullish momentum to move higher and is likely to fall further. The $2.75 level underneath will be offering strong support, followed by $2.70 and $2.60. Now, if the dollar further strengthens, it will further put bearish pressure on 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.