Yahoo Finance Commodities Daily Forecast – November 23, 2017
Gold
The gold prices continued to trade range-bound during the Wednesday’s session as $1300 level above is a strong resistance zone. The market is expected to remain in the tight range of $1275 and $1300 and break on either side will be very significant for this market. Going forward, this market will remain difficult to trade and the hourly stochastic indicator is giving some type of trading indication for this market for a very short-term horizon. …Read More
Silver
The silver prices initially faced resistance moving higher above the $17 level but later it managed to break above. This market has been on a range bound movement and a break above $17.20 level will significant for this market. The stochastic oscillator is moving towards the overbought area and it is also going to cross of the moving averages which are indicating a weakness in the counter. A break below the $17 level will eventually send this market down towards the $16.80 and $16.50 level. …Read More
WTI Crude Oil
The crude oil prices skyrocketed during the yesterday’s session reaching towards the $58 level but there it started to show some amount of resistiveness. The market is expected to continue higher above the $60 level which is a strong resistance area and also a psychologically important level. A pullback in this market will be a nice buying opportunity for this market. In the downside, $56.60 level will important support and $55 will act as a floor to this market. …Read More
Natural Gas
The natural gas prices ultimately broke below the $3 level in the Wednesday’s session and reached towards the $2.95 level. The market will now face strong resistance at the $3 level again and the 24-hour exponential moving average. The volatility in this market is getting unpredictable. The market now is expected to reach towards the $2.85 level underneath which is also a strong support. In the higher side, until it breaks above the $3.10 level, this market will remain negative. …Read More
This article was originally posted on FX Empire
