Commodities Daily Forecast – May 30, 2018

By:

Published: May 30, 2018, 08:18 UTC

Gold The Gold market continued to be very noisy during the yesterday's session, trying to break above the $1305 level. The market could see a lot of

Gold

The Gold market continued to be very noisy during the yesterday’s session, trying to break above the $1305 level. The market could see a lot of support underneath and will attract a lot of buying interest. In the short-term, the market should continue to reach towards the $1325 level. Buying on dips will continue to be the right strategy for this market now. …Read More

Silver

The silver market continued to remain volatile and broke below a minor uptrend line on the hourly chart. The market will continue to be on buy on dips strategy and $16 will be the floor of this market. The $16.50 and $16.60 levels are important level in the chart and once it breaks above that line, $17 level will be the next target. …Read More

WTI Crude Oil

The crude oil market was noisy and witnessed slight buying pressure. The uptrend line which is around the $66 level should continue to offer a strong support line and is unlikely to break the line. If the market breaks below the $66 level, further selling will come into the market. …Read More

Natural Gas

The natural gas price broke down significantly during the yesterday slicing through the $2.90 level, reversing the entire upside momentum. The market should continue to go lower towards the $2.80 level and the $2.76 level will offer strong support in the market. Yesterday’s fall has completely changed the attitude of the market and will continue to be bearish. …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.