Commodities Daily Forecast – June 19, 2018

By:

Published: Jun 19, 2018, 09:15 UTC

Gold The gold prices moved back and forth during the Monday's session as traders trying to mark their entry after the weekend and also after the huge

Commodities Daily Forecast – June 19, 2018

Gold

The gold prices moved back and forth during the Monday’s session as traders trying to mark their entry after the weekend and also after the huge fall. The $1275 level underneath continues to offer strong support and break below will be extremely negative and could send the prices towards the $1250 level. The $1300 level continues to offer strong resistance barrier and will be very difficult for the market to break above. …Read More

Silver

The silver market was very choppy during the Monday’s session as the market is witnessing a lot of action around the $16.50 level. Given enough time, the market will resume its rally and pullbacks like this continue to offer good buying proposition. The $16.25 level underneath will be the next major support level. …Read More

WTI Crude Oil

The crude oil prices spiked higher during the yesterday’s session breaking above the $65 level and beyond. This spike is going to be short-term in the market as the current sentiments don’t favour higher prices and the market will eventually fall lower. The market is going to be very noisy in next couple of sessions with $66 in the higher side continues to offer strong resistance. …Read More

Natural Gas

The natural gas market started the week soft losing over 1 per cent but started to show signs of reversal. The market is massive resistive on the top or around the $3.10 level and signs of exhaustion will attract sellers into the market. If the market breaks down below the $2.95 level, then it could wipe out the entire gains of the recent rally. …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.