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Crude Oil Forecast: Crucial Resistance at $51.3

Posted on September 19, 2017 by Dean Rogers in Oil Price Forecast

WTI crude oil has formed strong resistance between $50.82 and $50.88. This level has been challenged three times over the past few days and held. One might argue that this is a triple top. However, the decline from $50.88 has been extremely shallow and choppy indicating it is most likely corrective. This afternoon’s move up … Continue reading Crude Oil Forecast: Crucial Resistance at $51.3

Natural Gas Forecast: October Looking for $3.12

Posted on September 13, 2017 by Dean Rogers in Natural Gas Price Forecast

October natural gas settled above $3.03 and fulfilled the $3.06 target. The next objective is $3.09, the equal to (1.00) target of the wave $2.88 – 3.088 – 2.885. The key objective is $3.12, the smaller than (0.618) target of the wave $2.799 – 3.042 – 2.88. This has been strong resistance all summer for … Continue reading Natural Gas Forecast: October Looking for $3.12

Crude Oil Forecast: Bullish Ascending Triangle

Posted on September 12, 2017 by Dean Rogers in Oil Price Forecast

WTI crude oil still looks weaker than Brent and products after forming a star today and settling below Friday’s $48.28 midpoint. However, prices are poised to break higher out of a bullish ascending triangle and should meet the smaller than (0.618) target of the wave $47.0 – 48.44 – 47.84 at $48.7. A close above … Continue reading Crude Oil Forecast: Bullish Ascending Triangle

Natural Gas Forecast: A Dose of Reality

Posted on September 06, 2017 by Dean Rogers in Natural Gas Price Forecast

Yesterday’s decline was a dose of reality that has set natural gas back into a state of uncertainty. With all factors considered, October natural gas will most likely settle back into a neutral trading range between nominally $2.91 and $3.04. This is about the same range prices oscillated within before last Thursday’s break high out … Continue reading Natural Gas Forecast: A Dose of Reality

Crude Oil Forecast: WTI Poised to Challenge $50.0

Posted on September 06, 2017 by Dean Rogers in Oil Price Forecast

October WTI crude oil could not settle above $49.2 resistance and is exhibiting signs of exhaustion. A pullback should take place soon, but at this point, there are no definitive technical factors that indicate the move up will stall before reaching $49.6 and possibly $50.0. A close over $50.0 would open the way for another … Continue reading Crude Oil Forecast: WTI Poised to Challenge $50.0

Natural Gas Forecast: Oscillating Within Bullish Flag

Posted on August 30, 2017 by Dean Rogers in Natural Gas Price Forecast

October natural gas looks to be well balanced as it continues to oscillate in a range between nominally $2.88 and $3.03. The range forms a bullish flag after holding support at $2.88 on Monday. However, today’s early move up stalled before it could overcome the $2.998 swing high and challenge the flag’s $3.03 upper trend … Continue reading Natural Gas Forecast: Oscillating Within Bullish Flag

Crude Oil Forecast: Head and Shoulders Calls for Lower Prices

Posted on May 30, 2017 by Dean Rogers in Oil Price Forecast

WTI crude oil fell sharply last Thursday after OPEC and other major producers announced an extension to production cuts through March 2018. This was expected by most, and according to media, the decline was due to disappointment that production cuts were not deeper, which many had hoped for. U.S. shale production remains a concern, though … Continue reading Crude Oil Forecast: Head and Shoulders Calls for Lower Prices