Commodities Daily Forecast – May 26, 2017

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Published: May 26, 2017, 07:27 UTC

Gold The prices consolidating and moved slightly lower during the course of the day yesterday as the dollar strengthened a bit across the board. We expect

Momentum above $49.50 seems to Boost the Commodity

Gold

The prices consolidating and moved slightly lower during the course of the day yesterday as the dollar strengthened a bit across the board. We expect some choppy trading and some consolidation to continue in the short term in the absence of any specific drivers of the market in the form of fundamentals and economic events. …Read More

Silver

There was not much movement in the silver markets as the instrument traded within a very tight range and consolidated as the market adopted a wait and watch mode as we approach the end of the month when the volatility goes down. But by the kind of price action that we have been seeing over the past couple of days, we can say that the prices are in a buy dips mode. …Read More

WTI Crude Oil

The oil prices tumbled yesterday as the OPEC meeting was a large disappointment for the markets. The traders were expecting a much larger cut in production and also expected a larger extension in the production cut deal but what they got was only a 9 month extension and there was no further cut in the production targets. This led to the oil prices pushing sharply lower below $50. …Read More

Natural Gas

The increase in the inventory gas led to another round of correction in the prices of natural gas and now the industry looks towards the weather for it to provide the next direction. The weather forecast has been plagued by differing weather models which has forced the market to adopt a wait and watch attitude. …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.