Commodities Daily Forecast – July 4, 2018

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Published: Jul 4, 2018, 10:26 UTC

Gold The gold prices gained significant strength during the Tuesday's session that helped it to break above the $1250 level. This is an important

Gold

The gold prices gained significant strength during the Tuesday’s session that helped it to break above the $1250 level. This is an important breakthrough in the market given the continuous negative momentum in the past few session. If it manages to stay above this level and breaks above $1255 level, then the market will witness a recovery in prices but $1275 level will continue to offer strong resistance. …Read More

Silver

The silver prices bounced higher during the yesterday’s session reaching towards the $16 level. If the market breaks above the $16 and eventually $16.10 level, then the market could witness some amount of recovery and may reach towards the $16.50 level. On the lower side, the $15.50 level continues to be the floor of this market. …Read More

WTI Crude Oil

The crude oil market continued to remain bullish in yesterday’s session also reaching towards the $75 level. The market has a steep upside rally in the past few session and may experience a pullback here which will be a good buying opportunity. In the short term, the market will continue to experience strength even in the back of strength in the dollar. …Read More

Natural Gas

The natural gas prices didn’t move an inch in the yesterday’s session as the $2.85 level was offering strong support. The market was experiencing drying up of liquidity in the American session as it was moving towards a holiday next session. The market overall continues to be bearish and break below the current level will pull this market further down. …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.