Forecasts & Analysis | Commodities
Major Indices Bounce From Crucial Supports, Not All of Them Though
In today’s Traders Edge Market Briefing, Tomasz found these amazing setups we thought you’d find interesting!
Gold Price Futures (GC) Technical Analysis – Trading on Bullish Side of Daily Pivot at $1827.40
The direction of the June Comex gold market on Friday is likely to be determined by trader reaction to $1827.40.
Daily Gold News: Friday, May 14 – Gold Closer to Recent Local Highs
Gold is 0.5% higher this morning, as it is trading closer to the recent local highs. What about the other precious metals?
Crude Oil Price Update – Trader Reaction to $64.90 – $65.31 Should Determine Near-Term Direction
Aggressive counter-trend sellers could come in on a test of $64.90 to $65.31. They are going to try to form a potentially bearish secondary lower top.
Natural Gas Price Fundamental Daily Forecast – Short-Term Weather Forecasts Leaning to Bearish Side
Without a catalyst, buyers, who are looking for an upside breakout, may just throw in the towel and wait for a reset at a more favorable price level.
Oil Price Fundamental Daily Forecast – WTI, Brent Tumble on Rate Hike Concerns, Covid-Related Demand Worries
In another bearish signal for oil demand, a variant of the coronavirus has swept through India, the world’s third-biggest importer of crude.
Price of Gold Fundamental Daily Forecast – Prices Reverse to Upside after Treasury Yields Dip
The Labor Department said its producer price index for final demand rose 0.6% in April after surging in March.