Commodities Daily Forecast – June 13, 2018

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Published: Jun 13, 2018, 09:16 GMT+00:00

Gold The gold market was very noisy in the Tuesday's session and at one point of time it reached down towards the $1293 level. The $1300 level continues

Gold

The gold market was very noisy in the Tuesday’s session and at one point of time it reached down towards the $1293 level. The $1300 level continues to offer strong resistance and also a psychologically significant number.A break below $1290 level will send the gold prices much lower possibly towards the $1285 level. …Read More

Silver

The silver prices initially pulled back a bit reaching towards the $16.75 level but bounced higher from there reaching $16.90 level above. The $17 level will continue to offer a minor resistance and break above will send this market towards the $17.25 level. The $16.50 level underneath will act as a floor of this market. …Read More

WTI Crude Oil

The crude oil prices initially dropped during the yesterday’s session but found enough strength to start rally. The $67 level is offering strong resistance and a break above it will eventually send the crude price towards the $70. But the market will continue to nosiy and short term pullback should be supported down at the $65 level. A break below $64.50 level could cause the market to unwind rapidly. …Read More

Natural Gas

The natural gas market turned extremely negative during the yesterday’s session as it ran into significant trouble around the $2.96 and collapsed to reach down towards the $2.90 level. The area which has been important in the past as well. The market in this particular zone will be lot more noisy as due to the presence of strong resistance points. A break below $2.85 level will send this market towards the $2.72 level, which is its next support line. …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.