Commodities Daily Forecast – May 29, 2018

Colin First
Technical Update For Gold, Silver & WTI Crude Oil: 12.01.2018
The container terminal at dusk

Gold

The Gold market was quiet all through the Monday’s session after initially breaking below the important $1300 level. The market is likely to continue moving higher and pullbacks like these will offer good value in the market. Once it breaks above the $1305 level, then it will attract more buyers into the market. The $1275 level underneath will continue to offer strong support. …Read More

Advertisement

Silver

The silver market fell a bit during the Monday’s session reaching towards the short-term uptrend line which is offering a bit of support in the market. The $16.50 level above is a string resistance point and if it succeeds to clear above it and $16.60 level, then the market will rally further. Buy on dips will be the right strategy to play this market. …Read More

WTI Crude Oil

The crude oil prices broke over 1 percent during the Monday’s session reaching towards the $66 level, as the liquidity was less compared to other days. This level has been an important support level in the past, and if it breaks below this level then the market is likely to witness further deep selling, probably towards the $63 level. …Read More

Natural Gas

The natural gas rallied during the Monday’s session using the $2.90 level as a support, trying to reach towards the $3 level, which is a strong resistance point. The market has a strong resistance between $3 and $3.10 level and needs to clear above in order to continue moving higher. Any signs of exhaustion will attract sellers into the market. …Read More

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Trade With A Regulated Broker

  • Your capital is at risk