Commodities Daily Forecast – June 6, 2018

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Published: Jun 6, 2018, 09:16 UTC

Gold The gold market was mostly sideways during the yesterday's session hovering around the $1290 level. The market here is likely to be building

Gold

The gold market was mostly sideways during the yesterday’s session hovering around the $1290 level. The market here is likely to be building significant momentum to break higher the $1300 level and $1305 level in order to resume its bull phase again. The $1275 level is a strong support underneath and buying on dips will be the right strategy to play this market currently. …Read More

Silver

The silver market went back and forth during the Tuesday’s session as it continued to offer strong support around the $16.35 level. Short-term pullbacks will continue to offer value to the long-term traders. Once this market clears above the $16.60 level, the market will shot higher towards the $17 level and above. …Read More

WTI Crude Oil

The crude oil prices slid further during the Tuesday’s session breaking below the $65 level, which is, of course, a very negative development for the market. The market is likely to continue moving lower with major supports at $62.50 level and $60 level. The $66 level is currently the major resistance point in the market. …Read More

Natural Gas

The natural gas prices fell on Tuesday’s session towards the $2.84 level which was the most likely scenario post the runup. The market is likely to break down further from here and in the short term, more sellers are expected in the market. The $2.72 level is the next major support level in the market. …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.