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Natural Gas Short-Term Forecast – April 18, 2018

Posted on April 18, 2018 by Dean Rogers in Natural Gas Price Forecast

In the bigger picture, natural gas remains range bound between nominally $2.60 and $2.84. However, last Friday’s break higher out of a bullish flag and test of resistance at $2.76 set prices up to test the upper end of the trading range this week. So far, though, prices have struggled to reach the upper end … Continue reading Natural Gas Short-Term Forecast – April 18, 2018

Crude Oil Short-Term Forecast – April 17, 2018

Posted on April 17, 2018 by Dean Rogers in Oil Price Forecast

Late last week, May WTI crude oil fulfilled the $67.3 smaller than (0.618) target of the wave $57.6 – 66.55 – 61.81. Although prices settled above this on Friday the move up struggled to extend and an evening star setup with two stars formed. This reversal pattern’s $66.2 completion point was challenged Monday and again … Continue reading Crude Oil Short-Term Forecast – April 17, 2018

Natural Gas Short-Term Forecast – April 11, 2018

Posted on April 11, 2018 by Dean Rogers in Natural Gas Price Forecast

Natural gas is still oscillating within a range between nominally $2.60 and $2.80. Traders are likely waiting on external factors to push the market out of the range, so for now, erratic trading will most likely continue. Prices briefly fell below the lower trend line of the bullish pennant (not a textbook example) that formed … Continue reading Natural Gas Short-Term Forecast – April 11, 2018

Crude Oil Short-Term Forecast – April 10, 2018

Posted on April 10, 2018 by Dean Rogers in Oil Price Forecast

May WTI crude oil’s rise from the recent $61.81 swing low extended again today and is poised to continue. Monday’s bullish piercing pattern was confirmed by settling above Friday’s $63.7 open. There are also no reversal patterns or setups that indicate the move up will end. In addition, the $65.86 swing high fulfilled the smaller … Continue reading Crude Oil Short-Term Forecast – April 10, 2018

Crude Oil Short-Term Forecast – April 3, 2018

Posted on April 03, 2018 by Dean Rogers in Oil Price Forecast

WTI crude oil’s move up stalled near $66.4, the equal to (1.00) target of the primary wave up from $57.6 last week. The subsequent pullback initially looked corrective, forming four stars and settling the week above March 23’s open. However, the move down accelerated on Monday and is poised to challenge important support at $62.4 … Continue reading Crude Oil Short-Term Forecast – April 3, 2018

Natural Gas Short-Term Forecast – March 28, 2018

Posted on March 28, 2018 by Dean Rogers in Natural Gas Price Forecast

The long-term outlook for natural gas is negative but the May contract met and held support around its $2.60 swing low Monday. The subsequent move up is most likely corrective of a longer-term decline to challenge $2.55 and lower. Even so, there is some technical evidence that the move up could still extend to at … Continue reading Natural Gas Short-Term Forecast – March 28, 2018

Crude Oil Short-Term Forecast – March 27, 2018

Posted on March 27, 2018 by Dean Rogers in Oil Price Forecast

WTI crude oil stalled near crucial resistance at $66.4 Monday and confirmed an intra-day bearish KaseCD divergence. The subsequent pullback completed a bearish Harami line and star today by closing below Friday’s $65.08 midpoint. The pullback is most likely corrective but should test the Harami line and star’s confirmation point near $64.2 tomorrow. A close … Continue reading Crude Oil Short-Term Forecast – March 27, 2018

Short-Term Natural Gas Forecast – March 21, 2018

Posted on March 21, 2018 by Dean Rogers in Natural Gas Price Forecast

Last week, April natural gas broke below the lower trend line of the upward sloping channel it had been oscillating within since February 12. Prices also settled below important support at $2.66. The move down hesitated yesterday, but resistance at $2.71 held this morning and prices fell below the $2.64 swing low today. All of … Continue reading Short-Term Natural Gas Forecast – March 21, 2018

Crude Oil Short-Term Forecast – March 20, 2018

Posted on March 20, 2018 by Dean Rogers in Oil Price Forecast

May WTI crude oil fulfilled a highly confluent and extremely important target at $64.0 today when price rose to $63.98. The move up comes after prices broke higher out of the bullish descending flat wedge Friday and then tested and held the pattern’s upper trend line Monday. As discussed in our weekly forecast, $64.0 is … Continue reading Crude Oil Short-Term Forecast – March 20, 2018