Commodities Daily Forecast – May 18, 2018

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Published: May 18, 2018, 10:05 UTC

Gold The Gold market continued to trade weak during the yesterday's session reaching $1285 level underneath but bounced slightly higher. The market has a

Gold

The Gold market continued to trade weak during the yesterday’s session reaching $1285 level underneath but bounced slightly higher. The market has a strong resistance at the $1300 level above and if it breaks higher then the market will grind towards the $1325 level. The $1275 level underneath will continue to offer strong support to this market. …Read More

Silver

The silver market was initially volatile during the Thursday’s session but then started to rally reaching towards the $16.50 level which is offering a bit of resistance as it was a major support zone in the past. If this market succeeds to break above the $16.60 level then it will be ver bullish for the market, Pullbacks will continue to offer good buying opportunity in this market. …Read More

WTI Crude Oil

The crude oil prices broke the $72 level during the yesterday’s session but pulled back as the area above was significantly resistive. The $70 continues to be the floor of this market and pullback will great buying opportunity given the increased demand and supply cut from OPEC members. …Read More

Natural Gas

The natural gas market faced significant resistance above the $2.80 level during the yesterday’s session and fell lower to test support at the $2.78 level. If this market breaks further from here, then the natural gas prices will unwind more rapidly possibly reaching $2.65 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.