Commodities Daily Forecast Jul 17 2020

Forex-oil-5698162568

WTI Oil: Bullish But Hesitates Ahead Of 40.80 Levels…

As long as 38.00 support holds on a daily closing basis, the WTI Oil remains on the upside to 40.80 levels. A halt is likely, it may consolidate around here. Anyway; above 40.80 aims the 43.70 level, further upside, resistance comes in the 45.50 levels.

On the downside, a failure to break and hold above the 40.80 levels could mean a return to 38.00 levels. However; a cut-through 38.00 levels will suggest short-term topping around 40.80 levels, and pave the way to 34.30 levels ahead of 32.00 levels.

In conclusion: WTI Oil sees upside threats above 38.00 levels despite hesitation…

Support: 38.00, 34.29, 32.00, 28.47, 26.66

Resistance: 40.80, 43.70, 45.50, 49.10, 51.30

Commodities Daily Forecast Jul 17 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 Forecast Jul 17 2020 GoldSilver: Bullish Bias Above 19.40 Despite Hesitation…

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 Forecast Jul 17 2020 Silver

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