Commodities Daily Forecast – May 23, 2017

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Updated: May 23, 2017, 09:48 UTC

Gold The prices seem to be building towards another bullish leg as the prices continue to trade near the range highs in the 1265 region. A clear break

Momentum above $49.50 seems to Boost the Commodity

Gold

The prices seem to be building towards another bullish leg as the prices continue to trade near the range highs in the 1265 region. A clear break through this region is likely to target 1295 region in the short term and this is likely to be the target of the bulls for now. …Read More

Silver

The prices exploded higher over the last 24 hours, after being in a consolidation mode for quite some time. This helped the prices to move above the crucial $17 region and this time, the bulls were able to make this move stick as the prices closed the day above $17. Any pullback should be used as an opportunity to go long. …Read More

WTI Crude Oil

The prices continue to trade in a buoyant manner as the markets looks forward to the OPEC producers announcing an extension of the production cut and a deeper cut pretty soon. The markets have already started pricing in this announcement and this is likely to keep the oil prices well bid. …Read More

Natural Gas

The prices had a very bullish session yesterday as the prices gapped higher at the beginning of the week showing that there is a lot of bullish pressure underneath. We believe that the $3.25 is likely to act as support in the short term and this region would be used to bounce higher. …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.