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Commodities Daily Forecast – July 19, 2018

Colin First

Gold

The gold prices drifted lower during the yesterday’s session slicing through the $1225 level. The market is currently testing the $1222 level for support and if it breaks further from here, then the market will unwind from here rapidly to the $1200 level. A break above $1,230 level will eventually help the market to gain some positive momentum to continue moving higher. …Read More

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Silver

The silver prices further broke down during the Wednesday’s session, slicing through the $15.50 level. The market has broken multiple strong support levels in the short span of time which has turned the momentum very weak. The $15 level underneath continues to act as a floor of this market. If it breaks above the $15.50 level again, the silver prices are likely to witness rebound from here. …Read More

WTI Crude Oil

The crude oil prices traded sideways through the Wednesday’s session as the market is trying to build up enough momentum to move higher again. The $66 level underneath is providing important support to the market with $70 level on the top acting as a ceiling in the market. …Read More

Natural Gas

The Natural Gas rallied a bit during the Wednesday’s session bouncing from the $2.74 level. The market overall continues to be negative and given enough time, it will break down further towards the $2.60 level. Rallies in the market continue to be a nice selling opportunity. …Read More

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