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Crude Oil Short-Term Forecast – May 15, 2018

Posted on May 15, 2018 by Dean Rogers in Oil Price Forecast

The overall outlook for WTI crude oil is positive. However, a double top around $71.9, daily spinning top candlestick reversal pattern, and intra-day bearish momentum divergence indicate the pullback from $71.92 should extend to at least $70.4 tomorrow. This target is split between a projection of the wave down from $71.93 and the double top’s … Continue reading Crude Oil Short-Term Forecast – May 15, 2018

Natural Gas Short-Term Forecast – May 9, 2018

Posted on May 09, 2018 by Dean Rogers in Natural Gas Price Forecast

This week, June natural gas has been bound within a very tight range between nominally $2.70 and $2.77. This is a challenging call right now because there are plenty of technical factors that indicate a break in either direction could take place soon. Even so, because the corrective range formed after a move down from … Continue reading Natural Gas Short-Term Forecast – May 9, 2018

Crude Oil Short-Term Forecast – May 8, 2018

Posted on May 08, 2018 by Dean Rogers in Oil Price Forecast

WTI Crude Oil Forecast Late last week, June WTI crude oil broke higher out of a daily bullish flag. This week’s crude oil price forecast indicated there was still a crucial target at $70.1, but this objective was overcome with relative ease Monday. Today’s corrective pullback stalled at $67.63 before settling the day at $69.06. … Continue reading Crude Oil Short-Term Forecast – May 8, 2018

Crude Oil Short-Term Forecast – May 1, 2018

Posted on May 01, 2018 by Dean Rogers in Oil Price Forecast

June WTI crude oil briefly broke lower out of the recent sideways trading range between nominally $67.1 and $69.5 when it fell to $66.85 today. The settle below April 18’s $67.58 midpoint indicates the near-term outlook is negative, though at this point prices will likely have to settle below $66.7 to confirm the downward correction … Continue reading Crude Oil Short-Term Forecast – May 1, 2018

Crude Oil Short-Term Forecast – April 24, 2018 –

Posted on April 24, 2018 by Dean Rogers in Oil Price Forecast

June WTI crude oil failed to rise above the $69.55 swing high today after stalling at $69.38. The subsequent move down formed a bearish engulfing line and challenged the $67.6 completion point of the daily evening star and hanging man bearish reversal pattern that has been set up since April 19. A weak bearish KaseCD … Continue reading Crude Oil Short-Term Forecast – April 24, 2018 –

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