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Commodities Daily Forecast – May 31, 2018
By:
Gold The Gold market was slightly bullish during the Wednesday's session on the back of the weak dollar. The market will continue to remain volatile as
Gold
The Gold market was slightly bullish during the Wednesday’s session on the back of the weak dollar. The market will continue to remain volatile as there is no significant change in market sentiment and in order to move higher from here, it needs to break above the $1308 level. The $1275 level underneath will be a strong support point. …Read More
Silver
The silver market rallied significantly during the yesterday’s session reaching towards the $16.50 level, an area which has been resistive in the past. The market will continue to witness a strong volatility and $16.35 level underneath will offer support. Once market crosses above the $16.60 level, it opens the door towards the $17 level. …Read More
WTI Crude Oil
The crude oil market rallied significantly during the yesterday’s session gaining over 2 percent. In the long term, the market will be in the uptrend and short-term pullbacks will be a nice buying opportunity. The $70 level will offer a resistance and once it clears above, then it will move further higher. …Read More
Natural Gas
The natural gas market traded with a negative proclivity testing the $2.80 level for support. Once, it breaks below this level, the market will continue to slide further probably towards the $2.76 and $2.7 level. The market will remain volatile as there is no significant improvement in the sentiments of the market. …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.
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