Commodities Daily Forecast – June 21, 2017

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Published: Jun 21, 2017, 07:55 UTC

Gold Gold prices continued to fall for another day as the prices broke through the support at around the 1248 region and fell down towards the 1240

Gold

Gold prices continued to fall for another day as the prices broke through the support at around the 1248 region and fell down towards the 1240 region. We are seeing a small bounce in the prices which could carry the prices back towards the broken support but the downtrend is established and this opens up the 1220-25 region as the next likely short term target. …Read More

Silver

Silver prices have also been trading weakly as the investors pull out their funds from the safe assets like silver and gold. The silver prices are trading just below the $16.5 region with the $16 region being the next target for the bears. This weakness is likely to continue for the short term as the market awaits the next direction. …Read More

WTI Crude Oil

Prices dropped lower on supply concerns as the bulls and the bears battle it out near the bottom of the range to see who gains control. This battle is likely to get resolved today as the oil inventory data comes in and it is this data that has been causing a lot of volatility in the prices over the last couple of weeks. …Read More

Natural Gas

The market has been trading sideways over the last 24 hours as the traders took some rest after the pounding that was received in the prices yesterday. The market awaits the inventory data to determine the next short term direction and the data would be released later on today. …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.