Commodities Daily Forecast – May 28, 2018

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Published: May 28, 2018, 07:55 UTC

Gold The Gold prices went back and forth during the Friday's session, as it is trying to build up enough momentum to continue higher. The $1300 level will

Gold

The Gold prices went back and forth during the Friday’s session, as it is trying to build up enough momentum to continue higher. The $1300 level will continue to offer strong support and in the long term, the market looks bullish probably going towards the $1350 and $1400 level. Pullbacks will offer nice opportunity to buy the market. …Read More

Silver

The silver prices rallied during the Friday’s session reaching towards the $16.70 but broke down significantly to reach towards the $16.50 level underneath, which offers a strong support barrier. Overall market continues to remain strong and pullbacks like this will continue to offer a nice buying opportunity. …Read More

WTI Crude Oil

The bullish sentiment in the crude oil market disappeared, as Russia and other OPEC member decided to increase output 1 million BPD. This allowed the market to break through its important support level reaching $67 level underneath. This level will offer a bit of short-term support in the market. The strengthening of USD will also continue to put some bearish pressure. …Read More

Natural Gas

The natural gas rallied a bit during the Friday’s session trying to reach towards the $3 level which continues to be a juicy target for traders. The $2.90 level will offer strong support in the market and pullbacks will continue to offer a nice buying opportunity. The market in this zone will continue to noisy and will also attract some seller’s interest. …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.