Commodities Daily Forecast – June 7, 2018

By:

Published: Jun 7, 2018, 09:53 GMT+00:00

Gold The gold market initially started with weak momentum but bounced back towards the $1300 level. The region continues to attract a lot of buyers

Gold

The gold market initially started with weak momentum but bounced back towards the $1300 level. The region continues to attract a lot of buyers interest and a break above $1300 level and $1308 level will send this market much higher towards the $1325 level. Short-term pullbacks will continue to offer a good buying opportunity in the market. …Read More

Silver

The silver market shot higher during the yesterday’s session breaking above the $16.60 level, which is a very bullish sign for the market. The silver prices are likely to reach towards the $17 level and above which is a large, round, psychologically significant number. Short-term pullbacks will attract buyers near the $16.50 level but also the market will continue to be very noisy. …Read More

WTI Crude Oil

The crude oil has turned extremely negative and in yesterday’s session, it has broken below the $64.33 level. A break down below $64 level will pull this market further lower possible towards the $63 and $62 level. The $66 level and above will continue to offer strong resistance. …Read More

Natural Gas

The natural gas market continued to remain noisy in the yesterday’s session as it went lower reaching towards the $2.80 level underneath. The $2.78 level underneath is the strong support line and if it breaks below this line then next major support level will be $2.72 level. On the top, the $2.90 level will continue to offer strong resistance. …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.