Commodities Daily Forecast – June 18, 2018

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Published: Jun 18, 2018, 08:04 UTC

Gold The gold prices broke down significantly during the Friday's session breaking through the major uptrend line that extends from late 2016. Gold is

Gold

The gold prices broke down significantly during the Friday’s session breaking through the major uptrend line that extends from late 2016. Gold is currently hovering around the $1275 level and could break towards the $1250 level over the longer term. The market is expected to continue volatile as people are concerned about the potential trade wars. …Read More

Silver

The silver prices broke off significantly during the Friday’s session reaching $16.50 level on the back of intensifying trade wars and US dollar gained some strength as money flowed into the treasury market after the announcement of new tariffs. Pullbacks like this will continue to good value buying and $16.25 level underneath continues to offer strong support. …Read More

WTI Crude Oil

The crude oil prices break over 3 per cent in the Friday’s session breaking below the $65 level and is currently just above the major uptrend line. If it breaks below then it will be very negative for the market and will break down rather significantly. The commodities sector will struggle in the backdrop of intensifying trade wars. …Read More

Natural Gas

The natural gas market witnessed a bullish spurt on Friday’s session breaking above the $3 level. The market now is expected to witness some higher prices on the back of some supply disruptions in the market. The $2.96 level should offer strong support in the short term and will also attract sellers attention as the area is very resistive. …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.