Commodities Daily Forecast – July 16, 2018

Commodities Daily Forecast – February 18, 2019·FX Empire
Colin First
Updated
0
In this article:

Gold

The gold market continued to remain noisy in the Friday’s session drifting down towards the $1237 level before bouncing a bit. The market is expected to continue driven by the headlines coming out from the trade wars. Any further signs of exhaustion in the market will break it down to the $1225 level and the $1200 level eventually. In an alternate scenario, the market needs to break above the $1250 level, to reverse the downtrend. …Read More

Silver

The silver fell during the Friday’s session reaching down to the $15.75 level which offered a bit of support. The market has experienced this support level for the couple of times in the last few sessions and if it breaks from here, then the next major support will be at $15.50 level. The $16 and $16.15 level above has now turned a bit resistive and will be difficult for the market to cross above. …Read More

WTI Crude Oil

The crude oil prices went sideways during the Friday’s session as the $70 level offered a bit of support to the market. The crude oil market is likely to continue facing pressure and break below this psychologically important level will be negative for the market will be sold off drastically, and sellers are also started to coming back into the market. …Read More

Natural Gas

The natural gas prices rolled over drastically during the Friday’s session reaching down to the $2.75 level. The longer-term outlook of the market remains negative as the market is affected by oversupply and also strengthening of USD will affect the market. Rallies will continue to be a nice selling opportunity and $2.60 level will act as a floor of this market. …Read More

This article was originally posted on FX Empire

More From FXEMPIRE:

Advertisement

Recommended Stories

  • Dow Jones Falls As Donald Trump Stock Craters; Cathie Wood Buys This Stock Amid 51% Plunge

    The Dow Jones fell as Elon Musk made a Tesla move. The Donald Trump stock sank on the stock market today. Cathie Wood bought a diving stock.

  • Trump Media stock tanks on move to issue millions of shares

    Trump Media stock slid as much as 16% on Monday after the parent company of Donald Trump's social media platform, Truth Social, filed to issue more than 21 million shares.

  • 4 Oversold Stocks to Buy Right Now

    Here are four stocks to buy now that could offer investors upside in the short and long term.

  • Wall Street Selloff Goes Global Amid US Rate Angst: Markets Wrap

    (Bloomberg) -- A selloff on Wall Street went global as investors grappled with the threat of higher-for-longer interest rates, China’s sluggish economy and an Israeli counter-strike. Most Read from BloombergBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROIIran’s Attack on Israel Sparks Race to Avert a Full-Blown WarApple Faces Worst iPhone Slump Since Covid as Rivals RiseTesla Executive Baglino Leaves as Musk Loses Another Top DeputyIsrael Versus Iran — What All-Out

  • Nvidia Reveals 8 'Secrets' For When To Sell Stocks. No. 2 Is Key.

    As top growth stocks like Nvidia test key moving averages, keep in mind these proven rules for when to sell stocks.

  • Elon Musk Agrees With Jamie Dimon's Warning Of Political Polarization 'Creating Risks That Could Eclipse Anything Since World War II'

    JP Morgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon's annual shareholder letter is a moment investors await to understand the thinking of one of the world's most influential bankers. While there has been speculation of Dimon entering politics, with him even gaining the support of billionaire hedge fund manager Bill Ackman to run for president, JP Morgan shared in a statement that "Jamie has no plans to run for office" and that "he is very happy in his current role." That has not stopped him from oc

  • Tesla layoffs hit high performers, some departments slashed, sources say

    Tesla management told employees Monday that the recent layoffs -- which gutted some departments by 20% and even hit high performers -- were largely due to poor financial performance, a source familiar with the matter told TechCrunch. The layoffs were announced to staff just a week before Tesla is scheduled to report its first-quarter earnings. The move comes as Tesla has seen its profit margin narrow over the past several quarters, the result of an EV price war that has persisted for at least a year.

  • 1 Stock I Wouldn't Touch With a 10-Foot Pole

    I am a dividend investor, and I prize dividend consistency. I just can't trust what this high-yield income stock says about its dividend.

  • Not-So-Happy Meal: $20 Wages Has Burger Joints In This State All Heated

    California fast-food employees started earning a minimum of $20 an hour in April. Thanks to a new law, which went into effect earlier this month, California chain restaurants with at least 60 locations nationwide have to pay their employees more. For smaller restaurants, the minimum wage continues to be the statewide bottom of $16 an hour. The largest publicly-traded fast-food companies include McDonald’s Corp (NYSE:MCD); Starbucks Corp (NASDAQ:SBUX); Yum! Brands, Inc. (NYSE:YUM), which owns Tac

  • Where Biden's billions in chipmaking money have gone — and what could be next

    President Joe Biden has spent $23 billion of the $39 billion he has to spur chipmaking in the US, spreading it to companies that plan new activities in several states.