Commodities Daily Forecast – May 15, 2018

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Published: May 15, 2018, 07:51 UTC

Gold The gold market continued to remain sideways on Monday's session testing the $1318 level for support. The market is likely to be building significant

Gold

The gold market continued to remain sideways on Monday’s session testing the $1318 level for support. The market is likely to be building significant momentum to cross the higher level possibly reaching towards the $1350 level and above and also there is a bit of weakness in the counter that will lift all the precious metal counters. …Read More

Silver

The silver prices fell during the yesterday’s session reaching down to the $16.60 level. The market here stands at an important support level that extends down to the $16.50 level. The market is expected to continue find buyers from here and also weak dollar will support this market higher possibly reaching towards the $17 level and above. …Read More

WTI Crude Oil

The crude oil prices started the week out with positive momentum rallying towards the $71 level. Short-term pullbacks continue to offer good buying opportunity with $70 level underneath is acting as a floor of this market. The market is likely to eventually reach higher towards the $72.50 and $75 level in next several sessions. …Read More

Natural Gas

The natural gas prices bounced higher during the Monday’s session using the $2.80 level as support. The market is likely to reach towards the $2.90 level and $ 3 level in next several sessions. The $2.80 level and $2.72 level underneath will continue to offer a strong support and any signs of exhaustion pull this market down severely. …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.