Commodities Daily Forecast – May 14, 2018

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Published: May 14, 2018, 07:39 UTC

Gold The gold prices rolled over a bit during the Friday's session reaching down to the $1320 level which offered a bit of support. The market is likely

Gold

The gold prices rolled over a bit during the Friday’s session reaching down to the $1320 level which offered a bit of support. The market is likely to go higher from here as USD has extended a bit and showing signs of weakness against major currencies. Also on weekly charts, it has formed a hammer candle suggesting of bullish sentiment in the market. …Read More

Silver

The silver price fell towards the $16.70 level in the Friday’s session, an area that was a previous resistance level. The market should continue to go higher from here eventually breaking above the $17 level over the long term as there are lot of buyers interest in the market. The $16.50 level underneath is a strong support for this market. …Read More

WTI Crude Oil

The crude oil prices were choppy during the Friday’s session as it struggled to find enough bullish pressure to move higher. The $70 underneath is a major support in the market and will attract a lot of buyers interest. The $72 level is acting as strong resistance and if it can break above, then the market can eventually reach $75 level. …Read More

Natural Gas

The natural gas prices initially rolled over a bit during the Friday’s session but then got enough support underneath to continue to moving higher towards the $2.80 level. If it gets past the $2.82 level, then the market will rally trying to reach towards the $3 level which is the next major resistance point. A break down from the current level will send this market lower towards the $2.7 level. …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.