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Short-Term Energy Price Forecasts – November 21, 2017

Posted on November 21, 2017 by Dean Rogers in Natural Gas Price Forecast, Oil Price Forecast

WTI Crude Oil Forecast January WTI crude oil settled below $56.94, the 62 percent retracement of the decline from $58.14 to $55.0 and the smaller than (0.618) projection of the wave $55.0 – 56.93 – 55.75. However, this afternoon’s late move above $56.94 indicates the move up should challenge the equal to (1.00) projection at … Continue reading Short-Term Energy Price Forecasts – November 21, 2017

Natural Gas Short-Term Forecast – November 8, 2017

Posted on November 08, 2017 by Dean Rogers in Natural Gas Price Forecast

Monday’s gap up from $2.998 is probably a bullish breakaway gap for December natural gas. This is a reversal pattern that takes place after a prolonged down move or consolidation period. Breakaway gaps are also a good sign that a new trend has possibly begun. This type of gap is not usually filled like common … Continue reading Natural Gas Short-Term Forecast – November 8, 2017

WTI Crude Oil Short-Term Forecast – November 7, 2017

Posted on November 07, 2017 by Dean Rogers in Oil Price Forecast

The long-term outlook for WTI crude oil remains bullish and any move down will most likely be corrective. However, the move up has reached an area of significant resistance between $57.2 and $60.0 for the December contract. Many of the largest waves up from this summer’s $43.08 swing low project to targets within this range. … Continue reading WTI Crude Oil Short-Term Forecast – November 7, 2017

Natural Gas Short-Term Forecast – November 1, 2017

Posted on November 01, 2017 by Dean Rogers in Natural Gas Price Forecast

December natural gas fulfilled the equal to (1.00) target of the wave $3.353 – 3.013 – 3.198 when it fell to $2.847 today. Aside from a few brief declines to targets around $2.75, support around $2.86 has been troublesome on the continuation chart since late June. Technical factors indicate this may prove to be strong … Continue reading Natural Gas Short-Term Forecast – November 1, 2017

WTI Crude Oil Short-Term Forecast – October 31, 2017

Posted on October 31, 2017 by Dean Rogers in Oil Price Forecast

December WTI crude oil had a legitimate chance for the corrective move down from $54.46 to extend today after setting up a daily evening star and intraday head and shoulders formation. However, support held, and prices rose at the end of the day, settling above the key $54.2 target and opening the way for $55.0 … Continue reading WTI Crude Oil Short-Term Forecast – October 31, 2017

Natural Gas Short-Term Forecast – October 18, 2017

Posted on October 18, 2017 by Dean Rogers in Natural Gas Price Forecast

November natural gas met support at $2.85, the intermediate (1.382) target of the wave $3.036 – 2.908 – 3.026. This wave is now in position to extend to its $2.81 larger than (1.618) target. This is an important objective because it is also the smaller than (0.618) target of the waves $3.214 – 2.827 – … Continue reading Natural Gas Short-Term Forecast – October 18, 2017

WTI Crude Oil Short-Term Forecast – October 11, 2017

Posted on October 11, 2017 by Dean Rogers in Oil Price Forecast

Many near-term factors are positive for WTI crude oil. Tuesday’s move up confirmed a daily morning star, today’s move settled above the $51.22 swing high, and last week’s $50.5 midpoint has been overcome. These factors call for the move up to continue, but caution is warranted. WTI met and held the exact 62 percent retracement … Continue reading WTI Crude Oil Short-Term Forecast – October 11, 2017

Natural Gas Short-Term Forecast – October 11, 2017

Posted on October 11, 2017 by Dean Rogers in Natural Gas Price Forecast

November natural gas overcame $2.94 but could not settle above this highly confluent threshold. The pullback from $2.962 formed a long upper shadow on the daily chart. Patterns like this that have formed during the past few weeks have been early warnings that the corrective moves up have stalled. This is probably the case again, … Continue reading Natural Gas Short-Term Forecast – October 11, 2017

Natural Gas Short-Term Forecast – October 4, 2017

Posted on October 04, 2017 by Dean Rogers in Natural Gas Price Forecast

November natural gas’ initial rise to $2.977 overcame Monday’s $2.967 midpoint. However, prices could not close above that level and the subsequent decline has already retraced 50 percent of the move up from $2.88. The candlestick’s long upper shadow indicates today’s move up was most likely a failed attempt to overcome resistance. Therefore, odds still … Continue reading Natural Gas Short-Term Forecast – October 4, 2017