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Commodities Daily Forecast – July 26, 2017

By:
Colin First
Updated: Jul 26, 2017, 09:03 UTC

Gold The market was very choppy during the Tuesday's session and went downside to find enough support around the $1250 handle. The market is treading

Commodities Daily Forecast

Gold

The market was very choppy during the Tuesday’s session and went downside to find enough support around the $1250 handle. The market is treading carefully before the statement by FOMC. Traders should watch for the level at the close of the session, if we close below the $1240 region then the market will go much lower and if we break above the $1260 level then it will definitely aim for the $1300 level in long term. …Read More

Silver

The market was on a roller coaster ride on Tuesday’s trade session. Initially, it fell towards $16.25 level where it has its support area and again shot up through the $16.50 level finally settling below the $16.50 level. The market will continue to experience volatility till the FOMC statement is out. This will have an effect on the price of the dollar which directly affects the precious metal counter. Dovish statement from FOMC will take the prices towards $17 level. …Read More

WTI Crude Oil

The market made a big upside movement in yesterday’s session and broke above the $47.50 level which was a resistance level. The market will continue to move towards the $50 level with short pullbacks which gives a good chance of buying into. Looking ahead to the day, the market seems to make a very volatile move in today’s trade with FOMC statement and inventory data coming out during the day. …Read More

Natural Gas

The natural gas prices rose a bit during the day but found enough resistance in the upside region. The $3 and $3.10 are massive resistance zone for the market and selling pressure continues to be there from the upside zone every time. The market is Sell on Rallies type situation and is targeting for $2.85 and then $2.7 level. In long term, the market looks to settle around $2.45 level as oversupply and demand remain a concern. …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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