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Commodities Daily Forecast – May 24, 2017

By:
Colin First
Updated: May 24, 2017, 10:54 UTC

Gold The gold prices weakened during the course of the day yesterday as the dollar began to gain in strength. The support comes in at the 1242 region and

Commodities Daily Forecast

Gold

The gold prices weakened during the course of the day yesterday as the dollar began to gain in strength. The support comes in at the 1242 region and if there is a break, then we should be back in the 1221 region which we saw a couple of weeks back. …Read More

Silver

The silver prices tried to break higher yesterday in the morning as they moved above the $17 region but they faced a lot of selling in the $17.3 region and were forced to turn back and they moved back below the $17 region to close the day. This is likely to bring in some short term weakening in the silver prices with $16.75 serving as support. …Read More

WTI Crude Oil

The crude oil prices rose for another day yesterday, continuing the pattern that we have been seeing over the last few days. Though the supporting data has dropped off a bit, the market is willing to bet on the OPEC cutting the production by more than what is anticipated and this has been pushing the prices higher. …Read More

Natural Gas

The trading in the gas prices is likely to be choppy in the short term as the bulls and the bears fight it out and this has forced the prices to move up and down without any specific direction. This has been due to the difficult weather conditions which have been fickle and with the gas prices highly dependent on the weather, it has been a challenge to trade the instrument. …Read More

About the Author

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.

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