Commodities Daily Forecast Jul 14 2020

Forex oil 0900234fg

WTI Oil: Losing Upside Momentum, Vulnerable To The Downside…

With WTI Oil falling to continue higher through the 40.80 levels. The risk for a decline has been increased. Immediate support comes at 38.00 levels. A halt is likely, it may consolidate above here. However; a cut-through 38.00 aims the 34.30 level, the next support comes in the 32.00 levels.

The commodity is likely to consolidate around/below 40.80 before the next fall…

On the upside, the WTI Oil will have to break and hold above the 40.80 levels on a daily closing basis to prevent a return to the downside. If seen, it will target the 43.70 levels, a break would open 45.50 next, further upside, resistance comes in the 49.10 levels.

In conclusion: WTI Oil remains exposed to the downside below 40.80 levels…

Support: 38.00, 34.29, 32.00, 28.47, 26.66

Resistance: 40.80, 43.70, 45.50, 49.10, 51.30

Commodities Daily Forecasts Jul 14 2020 WTI OilGold: Consolidates With Upside Bias…

As long as 1790 support holds on a daily closing basis, the XAUUSD remains on the upside to the 1820 level. A halt is likely, it may turn lower from here, but a break would open 1840 next, a further upside aims the 1865 levels…

On the downside, a failure to hold and break above the 1820 levels could mean a return to the 1790 level. It may consolidate within 1790/1.1820 range…Anyway; a cut-through 1790 paves the way to 1765 levels, next support comes in the 1745 levels.

In conclusion:  The XAUUSD sees consolidation move below 1820 levels…

Support: 17.90, 1765, 1745, 1725

Resistance: 1820, 1840, 1865, 1893

Commodities Daily Forecasts Jul 14 2020 GoldSilver: Bullish But Hesitates Ahead Of 19.40 Levels…

As long as 18.40 support holds on a daily closing basis, the XAGUSD remains on the upside to 19.40 levels. A break would open 20.60 next, a further upside, resistance comes in the 21.40 levels.

On the downside, support comes in the 18.40 levels, below 18.40 see pullback threats to 17.55 level, the next support comes in the 16.70 levels…

In conclusion: The XAGUSD sees upside threats above 18.40 level with caution…

Support: 18.40, 17.55, 16.70, 16.00

Resistance: 19.40, 20.60, 21.40, 22.45

Commodities Daily Forecasts Jul 14 2020 Silver

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