Commodities Daily Forecast – June 22, 2017

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Published: Jun 22, 2017, 07:32 UTC

Gold Prices recovered during the course of the day yesterday as the dollar weakened across the board. This was also the bounce that we were anticipating

Gold

Prices recovered during the course of the day yesterday as the dollar weakened across the board. This was also the bounce that we were anticipating and this is a natural movement when we consider the fact that we are in a downtrend in this instrument. The gold prices are expected to be steady in the short term. …Read More

Silver

Silver prices also followed the gold prices and recovered over the last 24 hours as the prices pushed through the $16.5 region and continue to trade above it comfortably. This strength in the silver prices is expected to continue as the market awaits the next direction. …Read More

WTI Crude Oil

The prices dropped through the crucial November low despite the fact that the inventory data came in slightly better than expected. There were reports of increased production from Libya and Nigeria and the oil prices are likely to be weak as a result with the next short term target being $40. …Read More

Natural Gas

The prices consolidated and steadied itself for most of the day yesterday before making a brief trip back to the broken support region at $2.95. This move was short lived as it faced a lot of selling in that region and promptly dropped back and continues to trade in a weak manner. …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.