Commodities Daily Forecast – July 6, 2018

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Published: Jul 6, 2018, 07:11 UTC

Gold The gold market has been choppy and uncertain in the Thursday's session as the market is looking for some direction from US job numbers which are

Gold

The gold market has been choppy and uncertain in the Thursday’s session as the market is looking for some direction from US job numbers which are going to be published today. The $1250 level underneath continues to offer strong support and the market is likely to hold the level. With an uncertain trade war outcome, this market will continue to be under pressure and trade volatile. …Read More

Silver

The silver market was noisy through the Thursday’s session as the USD has been stronger as of late. The $15.50 level continues to offer support to the market which is also an important level in the long term, which also extends down to the $15 level. The market is expected to find plenty of buyers around the lower level and if it breaks above $16.15 level, then it will be a bullish factor for the market. …Read More

WTI Crude Oil

The crude oil prices slightly drifted lower during the yesterday’s session reaching towards the $73.25 level. The $75 level on the top is going to be psychologically important level and will be difficult for the market to break above. Today’s job data from the US will have an impact on the prices, with bullish data will allow this market to go further higher. The $72 level underneath is going to be the important support level. …Read More

Natural Gas

The natural gas market was enough noisy during the yesterday’s session initially rallying higher towards the $2.88 level but later on, gave in all the gains. The market is still lacking liquidity and also has entered a bearish phase after its recent bullish spree. The $2.70 level and $2.60 level underneath is the strong support bases with $2.90 level on the above is going to be a major resistance 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.