Commodities Daily Forecast – June 1, 2018

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Published: Jun 1, 2018, 07:35 UTC

Gold The Gold traded volatile in the yesterday's session as it moved lower to test the $1300 level for support. The market is likely to attract buyers

Gold

The Gold traded volatile in the yesterday’s session as it moved lower to test the $1300 level for support. The market is likely to attract buyers given the situation in the global economy and geopolitical issues. A break above $1308 level will send the market higher towards the $1325 level. …Read More

Silver

The silver market initially rallied during the yesterday’s session but got resistance around the short-term uptrend line and rolled back from there and broke below the $16.50 level. The $16.30 level will offer strong support and in the higher side, if it manages to break above the $16.50 and $16.60 level, then the next major resistance point will be $17 level. …Read More

WTI Crude Oil

The crude oil market rolled over significantly during the yesterday’s session after reaching the $67 level. The sell off is likely due to the impact of announcement of trade tariffs being applied to EU, Canada and Mexico. The market is expected to continue volatile and $66 level underneath will continue to offer strong support. …Read More

Natural Gas

The natural gas continued to be very volatile as its shot straight higher hitting the $2.95 level but the market is also witnessing signs of exhaustion there. It is likely that the market will roll back significantly, perhaps reaching towards the $2.86 level in next few session. Alternatively, if it continues to move higher then $3 level will provide significant resistance. …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.