Commodities Daily Forecast – May 24, 2018

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Published: May 24, 2018, 09:32 UTC

Gold The Gold market was in a back and forth momentum in the Wednesday's session as it is trying to break above the $1300 level which is offering a

Gold

The Gold market was in a back and forth momentum in the Wednesday’s session as it is trying to break above the $1300 level which is offering a significant resistance. The gold market will continue to struggle going forwards as the geopolitical concerns and strengthening of USD will keep this market volatile. …Read More

Silver

The silver price broke significantly during the yesterday’s session as USD is gaining a lot of strength. There is a lot of noise in the market and $16.30 level underneath is an important support level. If silver prices can break above the $16.60 level, then this market could go much higher. …Read More

WTI Crude Oil

The crude oil prices have fallen a bit during the Wednesday’s session reaching down towards the $71 level which is offering support in the market. The $70 level underneath is a strong support level underneath and is not likely to fall below that level. Such pullbacks in the market are nice opportunity to pick values. …Read More

Natural Gas

The natural gas prices rallied a bit during the Wednesday’s session as it cleared the $2.90 level which will offer a bit of support. The $3 level on the top is massively resistive and the market will struggle to go beyond that level and any signs of exhaustion in the market will attract sellers and will hammer the prices down. The 2.80 level underneath is a strong support level underneath. …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.