Commodities Daily Forecast – July 13, 2017
Gold
Gold prices rebounded yesterday and shot up to resistance levels before turning around. Yellen’s testimony before the Congress turned out to be dovish and due to this, the gold markets went higher. A look at the price charts show that huge support can be seen in the longer term. …Read More
Silver
The silver markets rallied initially due to Yellen’s comments on Fed’s interest rate hikes. If there is a break below these levels, the market is expected to go further low. Traders can expect a volatile market with silver being bearish in the near term and indicating massive support areas with buying opportunities in the long term. …Read More
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WTI Crude Oil
The crude oil markets dropped down significantly and remained volatile like yesterday. Contrary to market expectations, the US Crude Oil Inventories report showed a negative result and caused the markets to be bearish. Traders might find it difficult to trade this market as it is not as bullish as expected and the price action is choppy. …Read More
Natural Gas
After an upsurge this week, the pair rolled over yesterday. The inventory numbers were bearish and pushed the market to the downside. The market may continue to find sellers for now. It is best for traders to sit aside and keep a watch the market’s performance in the longer term before deciding to buy the pair. …Read More