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Commodities Daily Forecast – July 2, 2018

By:
Colin First
Published: Jul 2, 2018, 07:26 UTC

Gold The gold market continues to look soft and it is believed that the present momentum is likely to continue for longer in the market. The overall

Crude Oil daily chart, March 14, 2018

Gold

The gold market continues to look soft and it is believed that the present momentum is likely to continue for longer in the market. The overall attitude of the market remain downside as the $1260 and $1275 level, previous uptrend line offers significant resistance. Any signs of exhaustion will pull this market down towards the $1225 level. …Read More

Silver

The silver market witnessed strength in the Friday’s session as it reached towards the $16.10 level, perhaps due to the short covering ahead of the weekend. Given enough time, the market is likely to move lower during the as sellers will start coming back. The $15.50 level underneath will continue to be the floor of this market and rallies will continue to offer selling opportunities. …Read More

WTI Crude Oil

The crude oil prices continued to gain strength during the Friday’s session, driving the prices higher towards the $75 level. The market is expected to go strong, with $73 level underneath offering strong support. In next few sessions, buying on dips should continue to be the right strategy to play this market. …Read More

Natural Gas

The natural gas prices failed to stay above the $3 level which is massively resistive and fell through the $3 level reaching $2.95 level. The market is going to continue selling on rallies strategies, as there is no significant change in the fundamental situation of the market. The $2.88 level underneath continues to offer strong support underneath. …Read More

About the Author

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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