Commodities Daily Forecast Nov 29 2017

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WTI Oil: Consolidates With Upside Bias!

As long as 57.02 support holds on a daily closing basis, the WTI Oil remains on the upside to the 59.13 levels, a halt is likely but a break will aim the 60.50 levels, further upside, resistance comes at the 62.18 levels.

A daily closing back above 58.10 will increase the risk for the 59.13 levels.

On the downside, below 57.02 sees a fall risk to the 54.93/54.08 levels where another rise is likely. Next support comes at the 52.93 levels.

Conclusion: The WTI Oil sees upside threats above the 47.02 levels with risk to the 59.13 levels, below 47.02 sees a fall risk to the 54.93/54.08 levels.

XAUUSD: Bullish With Caution!

As long as 1286 support holds on a daily closing basis, the XAUUSD remains on the upside to 1299/1305 levels, a halt is likely and it may turn lower from here but a break will aim the 1313 levels, further upside, resistance comes at the 1334 levels. On the downside, below 1286 sees a pullback risk to the 1273/1266 levels where another rise is likely.

A daily closing below 1286 will suggest short-term topping and increase the risk for the downside…

XAGUSD: Bearish With Risk To The 16.59 Levels!

As long as 17.11 resistance holds on a daily closing basis, the XAGUSD remains on the downside to the 16.59 levels, a halt is likely and it may turn higher from here (if see, resistance comes at the 16.76 levels), below 16.59 will aim the 16.42 levels, further down, support comes at the 16.18/15.92 levels. on the upside, above 17.11 sees a recovery risk to the 17.38 levels where another fall is likely, further upside will extend gains to the 17.38 levels.

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