Commodities Daily Forecast – June 5, 2018

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Updated: Jun 6, 2018, 03:21 UTC

Gold The gold market drifted sideways during the Monday's session as the area around the $1300 level continues to be very noisy. The $1300 level continues

Gold

The gold market drifted sideways during the Monday’s session as the area around the $1300 level continues to be very noisy. The $1300 level continues to offer strong resistance that extends up to $1308 level. If the market clears this level, then it is likely to reach $1325 level next. The market has plenty of support underneath at the $1285 level that extends up to $1275 level. …Read More

Silver

The silver market is lagging significant momentum in breaking above the $16.50 level. The market yesterday was very volatile and is facing massive resistance around the $16.50 level. The market has the potential to go as high as $16.70 level. In next several session, the market is expected to hover around this region with $16.30 level underneath is offering strong support. …Read More

WTI Crude Oil

The crude oil market has broken down through a major uptrend support line, slicing through the $66 level. This move is very negative for the market in the long run and is likely to reach towards the $60 level in the medium term. Alternatively, if it breaks above the $67 level, then it can reverse some of the bearish sentiment. …Read More

Natural Gas

The natural gas prices dropped slightly during the Monday’s session as $3 level continues to offer strong resistance. The market here is expected to remain noisy, and any signs of exhaustion in the market will attract sellers which will eventually pull this market lower. The $2.85 and $2.75 level underneath continues to offer strong support. …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.