Forecasts & Analysis | Commodities
Crude Oil Price Update – Strengthens Over $63.47, Weakens Under $62.29
The direction of the June WTI crude oil market on Monday is likely to be determined by trader reaction to the short-term Fibonacci level at $63.47.
Right Here, Right Now: Norwegian Outages Start Building Up
Over a period of two and a half months, the regional market is expected to be short 4.9 bcm of supplies from Norway, most of which fell between April and May.
Natural Gas Price Fundamental Daily Forecast – Supported by Strong LNG Volumes, Cooler Temps
Technically, the main trend is up. If the upside momentum continues then look for the move to extend into the $2.802 – $2.868 retracement zone.
Oil Price Fundamental Daily Forecast – Lower Close Suggests Weak Start on Monday
The big up move for the week was fueled by positive oil demand growth outlooks by both the IEA and OPEC and a bigger-than-expected draw from the EIA.
Price of Gold Fundamental Daily Forecast – Supported by Fed’s Plan to Keep Interest Rates Historically Low
The catalysts behind gold’s strength were a sharp retreat by U.S. Treasury yields on Thursday and a generally softer U.S. Dollar.
Gold And Silver Continue To Gain Value As Multiple Events Support Safe-Haven Assets
This week both gold and silver had substantial gains as multiple events were highly supportive of the safe-haven asset class.
Gold Price Futures (GC) Technical Analysis – Trader Reaction to $1788.50 Determines Near-Term Tone
The next major move in gold will be determined by trader reaction to the major 50% level at $1788.50.
Crude Oil Price Update – May Be Forming Potentially Bearish Closing Price Reversal Top
The direction of the market into the close on Friday will be determined by trader reaction to $63.37.
Natural Gas Weekly Price Forecast – Natural Gas Continues Choppy Behavior
Natural gas markets have rallied a bit during the course of the week to reach towards the $2.68 region.