Natural gas price started forming slow bearish waves, attempting to activate the previously suggested downside scenario as it moves toward $3.070, moving away from the resistance level at $3.350.

Currently, with the main indicators providing negative momentum, increasing the chances of attacking the $2.920 level. A break below this level would open the door toward additional bearish targets, potentially starting at $2.800, and extending to the support near $2.620.

On the other hand, a shift back into an upward trend would require a strong bullish surge, allowing the price to stabilize above $3.520. This would enable it to record further gains, gradually targeting $3.710 and $3.950 respectively.

The expected trading range for today is between $2.920 and $3.180.

Trend forecast: Bearish

Platinum price continued to form positive trading, benefiting from the formation of the $1640.00 level as a strong additional support, leading to its current attempt to attack the initial barrier at $1770.00, to find a path for further upward waves in the near term.

Note that the attempt of stochastic to provide positive momentum could push the price to surpass the current barrier, to expect reaching $1865.00, to attempt to test the main resistance located around $1922.00. On the other hand, failure to break out would force mixed trading, with a renewed chance of declining toward $1690.00.

The expected trading range for today is between $1720.00 and $1865.00.

Trend forecast: Bullish

Goldman Sachs has lowered its average Brent crude oil price forecast for 2027 to $80 per barrel, citing stronger global supply growth and continued weakness in demand, particularly in China. According to a research note from the investment bank via Reuters, rising oil production from the United States, Brazil, Guyana, Venezuela, and the United Arab Emirates, combined with structural shifts in energy consumption, is expected to weigh on prices over the longer term. Goldman said it expects more than 10% of the current weakness in demand to persist as China’s transition toward alternative energy sources, including electric vehicles, accelerates.

Despite lowering its 2027 outlook, Goldman maintained its expectation that Brent crude will average $90 per barrel during the fourth quarter of 2026. The bank noted that the effects of a prolonged disruption in the Strait of Hormuz have been moderated by a smaller-than-anticipated supply shortfall and weaker global demand.

Goldman estimated that disruptions to Middle Eastern production initially reduced regional liquids output significantly, but the resulting global deficit during the second quarter amounted to approximately 5 million to 6 million barrels per day. Existing oversupply and lower demand helped cushion the impact. The bank now expects oil exports from Gulf producers to normalize by late August, compared with its previous expectation of late June.

The bank outlined several scenarios for oil prices. Under an adverse scenario involving prolonged export disruptions, Brent could average slightly above $110 per barrel in late 2026. A more severe scenario, in which disruptions in the Strait of Hormuz continue through 2027, could send prices as high as $140 per barrel.

On the other hand, Goldman said that a quicker recovery in supply and weaker-than-expected demand could push Brent prices down to around $70 per barrel by the end of 2026 and approximately $60 per barrel in 2027.

The revised forecast reflects the growing influence of both supply growth and changing consumption patterns on global energy markets, even as geopolitical developments continue to create the potential for significant price volatility.

Domestic coffee prices today

Coffee prices today in the domestic market simultaneously increased sharply compared to the previous session. The average coffee price currently reaches 89,600 VND/kg, an increase of 2,000 VND/kg.

In Dak Lak, coffee prices were recorded at 89,500 VND/kg, an increase of 2,000 VND/kg. Gia Lai also had the same price of 89,500 VND/kg, an increase of 2,000 VND/kg compared to the previous session.

In Lam Dong, today’s coffee price reached 89,000 VND/kg, the lowest among the surveyed localities but still increased by 2,000 VND/kg. Meanwhile, Dak Nong (old) continues to be the area with the highest price, reaching 89,000 VND/kg, an increase of 2,000 VND/kg.

This development brings domestic coffee prices back close to the threshold of 9,000 VND/kg, after a period of market pressure from the prospect of increased supply.

World coffee prices

On the London exchange, Robusta coffee futures for July 2026 closed at 3,594 USD/ton, up 131 USD/ton, equivalent to 3.78%. September 2026 futures reached 3,525 USD/ton, up 130 USD/ton, equivalent to 3.83%.

Further terms also simultaneously increased. Robusta November 2026 term reached 3,452 USD/ton, up 124 USD/ton; January 2027 term reached 3,390 USD/ton, up 121 USD/ton; March 2027 term reached 3,354 USD/ton, up 117 USD/ton.

On the New York exchange, Arabica coffee for July 2026 delivery reached 257.20 US cents/lb, up 3.25 cents/lb, equivalent to 1.28%. September 2026 delivery reached 253.40 US cents/lb, up 3.15 cents/lb; December 2026 delivery reached 246.45 US cents/lb, up 3.25 cents/lb.

The USD/VND exchange rate according to Vietcombank was recorded at 26,092 VND/USD, down 10 VND.

Coffee price assessment

According to Barchart, world coffee prices continued to rise in the last session of the week due to concerns that prolonged rain in Brazil’s coffee growing areas could slow harvest progress. Weather forecasts show moderate to heavy rain will also appear in some coffee production areas of Brazil this week and may extend to next week.

Besides weather factors, reduced coffee inventories on the ICE exchange also supported prices. Arabica inventories monitored on the ICE fell to the lowest level in many months, while Robusta inventories remained low compared to the same period.

The El Niño factor is also receiving more attention from the market. The US National Oceanic and Atmospheric Administration said that El Niño has appeared and is likely to strengthen in the Northern Hemisphere winter of 2026-2027. If this phenomenon changes rainfall in Brazil during the coffee flowering period, risks for the next crop supply may increase.

However, the upward momentum of coffee prices is still under pressure from the prospect of large supply. USDA/FAS forecasts that Brazil’s coffee production in the 2026/27 crop year may reach a record level of 71.9 million bags, an increase of more than 14% compared to the previous crop year. Rabobank also raised its forecast for a global Arabica surplus, showing that the market has not escaped supply pressure in the medium term.

On the Robusta side, the increase in our country’s coffee exports is a factor that can curb price increases. International organizations still assess Vietnam as the world’s largest Robusta producer, and production in the 2025/26 crop year is forecast to improve compared to the previous year.

In general, coffee prices today increased sharply thanks to the short-term impact of Brazil’s weather and low inventories. However, the upcoming trend still largely depends on the harvest progress in Brazil, El Niño developments and the rate of coffee exports from within the country.

Channel Structure vs Moving Average Resistance

A bounce from the midline of the channel would, by itself, suggest an eventual rally to test the top falling channel line as resistance. But since the 50-day moving average is nearby around $4,596, it represents a more significant dynamic resistance level. Until that average is reclaimed, the bearish structure that has formed takes precedence since it marks the top trend resistance indicator.

Bearish Risk if Support Fails Again

Despite the strong bullish reaction on Friday, further testing of support near the uptrend line may still occur. Also, if the trendline is broken, the next lower target zone is indicated from around $3,915 to $3,873, consisting of support near a swing low from October and the 127.2% projection for the falling ABCD pattern.

Muted Follow-Through, Short-Term Bias Upward

Bullish follow-through on Friday was muted, with a very narrow range day and a slightly higher daily high of $4,246 and higher low at $4,170. It provided little additional useful information other than that the bias remained to the upside in the short-term.

Long-Term Resistance at the 200-Day Moving Average

The 200-day moving average is a long-term trend indicator that was confirmed as support following the sharp decline in March, and it failed recently on a second test. If the counter-trend rally extends, the 200-day average is the key resistance zone to watch for sellers to get more aggressive. It is now at $4,452 and rising slightly. It takes on added significance given its confluence with other overhead resistance indicators.

Inflection Point Between Reversal and Breakdown

The interaction between the recent failed breakdown and strong support zone suggests gold remains at a pivotal inflection point, where either a sustained reversal higher or another leg lower from this confluence area will define the next directional phase.

If you’d like to know more about how to trade gold and silver, please visit our educational area.

The price of copper recently tested the additional support level at $6.1000, which has formed a strong barrier against attempts to resume the corrective decline. As a result, we are currently seeing some positive waves forming, with the price stabilizing near $6.3600.

We expect the price to be influenced by sideways movement dominance due to its repeated confinement between the previously mentioned support level, while the $6.6600 level continues to act as a strong barrier at the moment. However, the stochastic indicator attempting to provide negative momentum increases the chances of renewed corrective moves, which may pressure the support again and create an opportunity to resume the corrective downtrend in the short to medium term.

Expected trading range for today: between $5.1000 and $6.4200

Today’s forecast: Bearish, as long as the resistance holds