Weekly Commodities Analysis

Week 30 2021

July 26, 2021
Covered Instruments:
Gold ingots
XAU/USD
Silver ingots
XAG/USD
Copper ingots
XCU/USD
US Oil Drop
WTI/USD
Natural Gas symbol
NATGAS/USD
Gold ingots
GOLD (XAU/USD) - Week 30

In our previous forecast, we correctly anticipated Gold to depreciate. In the coming week, we are expecting Gold to drop a bit more before making another attempt to break the resistance area, as the pattern is developing into a messy consolidation. We recommend to avoid trading this asset for now.

Silver ingots
SILVER (XAG/USD) - Week 30

In our previous analysis we forecasted that the price will start a correction and drop towards the support. Unfortunately, we only got 50% of that right, as the price ranged the whole week. In the coming week, we foresee the price to finish this pullback and drop towards the support level, eventually breaking it, having the potential to head into the $23 area.

Copper ingots
COPPER (XCU/USD) - Week 30

Copper dropped at the beginning of the week, but shortly reversed, and now is making another attempt to break the resistance. In the coming days, we are expecting the price to increase and make a fake break-out, but shortly after we are expecting another drop that will push the price towards the support.

US Oil Drop
US OIL (WTI/USD) - Week 30

Last week, we correctly forecasted that we will start a bearish move that will act as a correction. For next week, we expect the barrel price to make a pullback, break the trendline and make a new top, reaching new highs.

Natural Gas symbol
NATURAL GAS - Week 30

In our last forecast, we expected Natural Gas to reach the trendline and resume the bullish trend. Instead, the price increased without reaching our entry point. In the coming week, we foresee the price to start a deeper pullback that has the chance to reach the confluence area created by the support and the trendline. We will only focus on the sell setups, if we get one. If not, we advise you to look at other instruments.

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