Commodities Daily Forecast – July 20, 2017

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Published: Jul 20, 2017, 07:21 UTC

Gold The gold markets fell down initially and found some support underneath before bouncing back to higher levels. The market is likely to attract

Gold

The gold markets fell down initially and found some support underneath before bouncing back to higher levels. The market is likely to attract long-term buyers for now due to the struggling U.S. dollar. The gold markets continue to grow steadily as the Fed is unlikely to raise the interest rates again this year. …Read More

Silver

The silver markets dropped down to support areas before bouncing to the upside. Many pullback opportunities can be found to trade this market. Short-term trading on this pair looks feasible at this point. At this point, the traders see a volatile market and find it difficult to trade the pair. …Read More

WTI Crude Oil

The crude oil markets initially went sideways yesterday. With the release of the U.S. Crude Oil Inventories Report showing a larger weekly draw than the forecasted numbers, the value and demand for crude oil shot up in the markets. As a result, the market is likely to find more sellers in this price region. …Read More

Natural Gas

The natural gas markets initially went higher before taking a turn and settling for lower levels. Since the natural gas markets are over brought and oversupplied, the market looks confused for now. Trader should pay attention to the Natural Gas Inventories Report later in the day and then take a buy/sell decision on the pair. …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.