Commodities Daily Forecast – June 8, 2018

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Published: Jun 8, 2018, 10:17 UTC

Gold The volatility in the gold prices continued in the Thursday's session as the market is struggling to keep itself above the $1300 level. The market is

Commodities Daily Forecast – June 8, 2018

Gold

The volatility in the gold prices continued in the Thursday’s session as the market is struggling to keep itself above the $1300 level. The market is also eyeing the outcome of the US and North Korea summit, which will also have a major factor in the future price momentum. Currently, the $1295 level underneath is providing strong support to the market, that extends up to $1285 level. …Read More

Silver

The silver market was bullish in the yesterday’s session reaching towards the $17 level. The market has gained significantly in the last few session and is in bit overbought condition. The $16.50 level underneath will continue to be a strong support point in the market and if the market breaks above the $17 level, then the market is likely to encounter lesser resistance up towards the $17.50 level. …Read More

WTI Crude Oil

The crude oil market had a positive session yesterday reaching towards the $66 level where it is facing a lot of issues. The $66 level is a strong resistance point in the market and is likely to pull back from here. And, if it breaks above this level, the buyers will start getting into the market taking this market further higher. …Read More

Natural Gas

The natural gas prices shot higher during the yesterday’s session reaching towards the $2.96 level. In the process, it has formed a shooting star in the hourly chart, which is a negative sign and also the area above this region is massively resistive. The market is likely to witness sort of selling pressure with support at the $2.90 level and $2.80 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.