Advertisement
Advertisement
Commodities Daily Forecast – August 28, 2017
By:
Gold The gold prices were initially sideways but as Jannet Yellen started speaking in Wyoming, the price movement was far bigger. The prices then fell
PREMIUM
Read what the experts are trading this weekExclusive analysis from FXEmpire top analysts — curated insights you won't find on the free site.In-depth analysis
Curated reports
Top analysts
Unlock Premium
Gold
The gold prices were initially sideways but as Jannet Yellen started speaking in Wyoming, the price movement was far bigger. The prices then fell significantly to reach towards the $1275 level but managed to bounce back towards the $1290 level. At the end of the close, the market looks fairly positive. Until it closes above the $1300 level, the market wouldn’t see a fresh buying and will consolidate towards the $12.75 level. …Read More
Silver
The silver market was very volatile in Friday’s trade session as the market was looking forward to the Jannet Yellen’s commentary in Wyoming, which came as much of disappointment. At the end of the day, the pair settled with a little gain with $17 as a support level. Looking ahead, the absence of any trigger, the market is likely to be volatile and will be difficult to trade. …Read More
WTI Crude Oil
The crude prices were soft during the day on Friday, initially tried to rally but fell towards the $47.50 level. The market will see a lot of action around this key level. Fundamentally, the market does not have much to offer as oversupply issue is taking the market down. The gap in the market coming after OPEC production cuts are filled by the American drilling which is also making the crude prices to remain soft. Overall, the market is negative and is looking towards the $46.50 level which is also a support and $50 as strong resistance in the upside level. …Read More
Natural Gas
The Natural Gas prices met with a large fall towards the $2.85 mark with no upside support. This market is more of a seller’s market due to its both strong technical resistance upside and weak fundamentals due to oversupply in the market. There will be some small regular spikes in the market, which will be met with a sell off until the pair crosses $3 level with significant momentum. …Read More
About the Author
Colin Firstauthor
Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.
Advertisement