Commodities Daily Forecast – June 4, 2018

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Published: Jun 4, 2018, 08:10 UTC

Gold The gold market broke below the $1300 level during the Friday's session reaching down to the $1290 level before finding support. Underneath this

Gold

The gold market broke below the $1300 level during the Friday’s session reaching down to the $1290 level before finding support. Underneath this level, there is a long-term for the market which makes it very important. The market is still in buy on dips phase, and in the longer term chart, the trend remains bullish that will help the market to reach $1350 level. …Read More

Silver

The silver market rallied significantly during the Friday’s session reaching towards the $16.50 level, but face some resistance to pull back a little. The market from here is likely to be volatile as strong job growth numbers will keep the market under pressure with a major support at $16 level. …Read More

WTI Crude Oil

The crude oil market was negative during the Friday’s session breaking by up to 0.7 percent in the intraday. The market is likely to witness some bullish pressure on the back of strong job growth numbers from the US and also there is a long-term support line placed underneath. If it breaks below this line, then $60 level can be seen in the medium term. …Read More

Natural Gas

The natural gas prices were very stable in the Friday’s session after some big volatile move in the previous sessions. The $3 level on the top continues to offer some strong resistance, that extends up to $3.10 level. The market in the short term is very bullish and any signs of exhaustion will attract sellers into the market and will hammer the prices down. …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.