Commodity Blog

The present video provides outlook for gold, silver, and crude oil for the week of May 27–31, 2019. The video starts with discussing fundamentals that were affecting the commodities during the past trading week, mentioning the decline of the US dollar and pointing out the fact that hedge funds and money managers reduced their net long positions on all of the commodities. The video then moves on to the weekly chart of gold, showing that the metal is range-bound and demonstrating important levels in case of either upside or downside breakout. The next chart of silver shows that the commodity moves in a downward trending channel. The next chart is a chart of crude oil. The video explains that the surge of US crude oil inventories and seasonality are bearish for crude at this point in time. It also mentions fundamentals that can affect oil this week.

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