Commodities Daily Forecast – July 26, 2018

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Published: Jul 26, 2018, 08:09 UTC

Gold The gold market continues to see a lot of volatility as it is witnessing a lot of selling pressure around the $1240 level. The market in the

Gold

The gold market continues to see a lot of volatility as it is witnessing a lot of selling pressure around the $1240 level. The market in the yesterday’s session initially went higher but faced strong resistance at the $1240 level only to fall back a little. The market ahead is going to remain affected by the headlines across the global macro and geopolitical developments. The market will continue to experience selling pressure until it breaks above the $1250 level. …Read More

Silver

The silver prices rallied during the yesterday’s session reaching towards the $15.60 level but pulled back slightly from there. The overall commodity market is struggling a bit to move higher and silver is no different here. If it clears above the $15.60 level, then the market will probably move towards the $15.80 level and $16 level eventually. The $15 level underneath continues to be the floor of this market. …Read More

WTI Crude Oil

The crude oil prices shot higher during the yesterday’s session reaching towards the $69 level but the market is likely to face a lot of issues going ahead from here. The $69.50 and $70 level continues to offer strong resistance and it is likely that the market will pull back from here. The $68 level underneath is the immediate support point for the market. …Read More

Natural Gas

The Natural Gas prices rallied during the yesterday’s session by over 1 per cent but is struggling around the $2.78 level. The area continues to be noisy and has a strong resistance and therefore it is likely that the market will experience a pullback from here. The $2.70 level underneath is a massive support point and the prices are likely to trade in a range bound manner between $2.70 and $2.78 level. …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.