Crude oil, Gold forecast May 10, 2018

By | May 10, 2018

Gold forecast

Comex gold price trading at 1313$, Precious metals are trading in a small range since yesterday. A good support on this major precious metal stands at 1305$, If traders tank this base and manage to sustain trade below our support. Then expect good pressure in gold price upto 1300$- 1291$ today.

A good resistance on this precious metal stands at 1322$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good recovery in gold price upto 1330$- 1338$.

Gold forecast conclusion: Comex gold trend is flat to positive for now.

Silver support stands at 16.30$, Resistance at 16.75$. Trend is flat to positive for now.

Crude oil forecast

Crude oil trading above 71.50$, we mentioned in our weekly forecast (newsletter) that oil is looking positive. It remain rock steady and currently sailing in a positive range. You may also get our weekly forecast by subscribing our newsletter for free here

A good support on this major commodity stands at 70$, If traders take this base out and manage to sustain trade below our support. Then expect good pressure in oil prices upto 69.20$- 68.10$ today.

A good hurdle on this major commodity stands at 72.30$, If traders take this hurdle out and manage to sustain trade above our resistance. Then expect good firepower in crude oil upto 73.70$- 74.90$.

Crude oil forecast conclusion: Oil trend is positive for now.

Dollar Index forecast

Dollar basket trading at 92.50, It almost tested 93 yesterday and now trying to cool off a bit. A good base in dollar stands at 92.10, If traders break this major base and manage to sustain trade below our support. Then expect more pressure in dollar upto 91.70$ – 91.40$ today.

A good hurdle on dollar chart stands at 93.05, If traders break this hurdle and manage to sustain trade above our hurdle. Then expect more firepower in dollar basket upto 93.30- 93.60.

Dollar forecast conclusion: Dollar trend is positive for now but more profit booking not ruled out. Better not buy on these levels.

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One thought on “Crude oil, Gold forecast May 10, 2018

  1. Pingback: Silver, Forex, Gold signals May 10, 2018. Gold analysis

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