Commodities Daily Forecast – November 28, 2017

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Published: Nov 28, 2017, 06:49 UTC

Gold The gold prices slightly went up during the yesterday's session but faced strong resistance at the $1300 level which kept this market flat. Lack of

Gold

The gold prices slightly went up during the yesterday’s session but faced strong resistance at the $1300 level which kept this market flat. Lack of any events in the market and the weak dollar is keeping the gold prices in a very tight and narrow range. The market is well supported at the $1275 level and if it breaks above the $1300 level then it can be positive for the market and will then go much higher towards the $1325 level. …Read More

Silver

The silver prices initially gapped lower in yesterday’s session but then gained enough strength to shot higher towards the $17.17 again but the rolled over significantly. The $17 level is providing a lot of support in the market. The market ahead is going to be very choppy due to weak sentiments in the US dollar. A break down from here will effectively send this market towards the $16.80 level and then towards the $16.50 level. Gold prices can provide the cues to trade this market efficiently. …Read More

WTI Crude Oil

The crude oil prices broke down significantly during the yesterday’s session as it reached the $57.50 level. This rapid fall in the market indicates of jitteriness near the higher level. If the prices break above the $58 level then some amount of bullish pressure is expected. And, if it breaks below the $56.50 level then it will further go down towards the $55 level. …Read More

Natural Gas

The natural gas prices gapped higher at the open in Monday’s session, reaching towards the $2.94 level but then turned volatile. The break above the $2.85 level is very significant for the market as it will attract buyers in the market. The $3 level above is going to be very resistive which extend up towards the $3.10 level. The hourly stochastic oscillator is expected provide some cues of the trading range in the counter. Looking ahead, the market will gain some traction as demand due to harsh winter is set to increase which in turn will have a positive impact on the prices. …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.