Forecasts & Analysis | Commodities

In today’s Traders Edge Market Briefing, Tomasz found these amazing setups we thought you’d find interesting!

The direction of the June Comex gold market on Friday is likely to be determined by trader reaction to $1827.40.

Gold is 0.5% higher this morning, as it is trading closer to the recent local highs. What about the other precious metals?

Silver’s bullish trajectory shows no signs of slowing down anytime soon.

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.

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.

Traditionally gold has reacted to inflation with a direct positive correlation.

In another bearish signal for oil demand, a variant of the coronavirus has swept through India, the world’s third-biggest importer of crude.

The Labor Department said its producer price index for final demand rose 0.6% in April after surging in March.

Expectations were for a 71 Bcf Build