Commodities Daily Forecast – June 29, 2018

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Published: Jun 29, 2018, 07:25 GMT+00:00

Gold The market continued to witness bearish sentiment during the Thursday's trade session hanging around its most crucial level $1250 level. Now, it is

Gold

The market continued to witness bearish sentiment during the Thursday’s trade session hanging around its most crucial level $1250 level. Now, it is unlikely that market will turn around and start rallying again. Short-term rallies will continue to be a nice selling opportunity and if the market breaks down below $1250 level, the market will roll over rapidly towards its next major support level at $1225 level. …Read More

Silver

The silver prices have sliced through one of its major support level of $16 level in the yesterday’s session. The market continues to witness strong bearish sentiment, it is likely that it will now crash towards its next major support level i.e $15.50 level. In the longer term, the market is still bullish dips like this offers great value in the market. …Read More

WTI Crude Oil

The crude oil market continues to witness plenty of buying pressure as it further rallied during the Thursday’s session. It broke through the $72 level on the top reaching towards the $73 level and given enough time, the market is expected to reach towards the $75 level as it is a large, round, psychologically significant level. The $72 level now will be a major support level for the market. …Read More

Natural Gas

Amid extreme noise in the market, natural gas broke above the $3 level, which is major resistance level. Now, it has broken above, the market is likely to continue bullish and further if it breaks above the $3.10 level, then it will attract plenty of buyers into the market. But, if the market show signs of exhaustion, sellers will hammer the market to break below the $3 level. …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.