Commodities Daily Forecast – June 12, 2018

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Published: Jun 12, 2018, 08:48 UTC

Gold The gold prices initially pulled back lower reaching towards the $1294 level but bounced back to recover some of its losses of the session. The

Gold

The gold prices initially pulled back lower reaching towards the $1294 level but bounced back to recover some of its losses of the session. The market is facing significant resistance at the $1300 level and until it clears above the $1308 level, buyers are likely to avoid this market. …Read More

Silver

The silver market rallied a bit during the Monday’s session reaching towards the $16.90 level but got significant resistance and pulled back slightly. The $16.75 level underneath continues to offer strong support and pullbacks will continue to offer buying opportunity at lower levels. A break above $17 level will be very positive for the market. …Read More

WTI Crude Oil

The crude oil prices were stable through the Monday’s session as the $65 level offered a bit of support to the falling market. The bounce in the market is also a sign of stability in the market and if the market clears above the $66.25 level in the next few sessions, it is likely that the buyers will flock the market and will move higher rapidly towards the $68 level. …Read More

Natural Gas

The natural gas market continued to trade volatile and range bound in the Monday’s session after falling hard in the previous session. The $2.95 level has been massively resistive and will be very difficult for the market to cross above. The $2.84 level underneath continues to offer strong support that extends down to the $2.74 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.