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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

Short-Term Natural Gas Forecast – March 14, 2018

Posted on March 14, 2018 by Dean Rogers in Natural Gas Price Forecast

The near-term outlook for natural gas became more negative today and prices are poised to test at least $2.70 and possibly $2.66 tomorrow. The small move up at the end of the day indicates resistance will probably be challenged first, but $2.76 and no higher than $2.79 is expected to hold. The confirmation of a … Continue reading Short-Term Natural Gas Forecast – March 14, 2018

Crude Oil Short-Term Forecast – March 13, 2018

Posted on March 13, 2018 by Dean Rogers in Oil Price Forecast

The WTI crude oil forecast remains slightly negative given today’s decline to $60.27 after testing and holding resistance around $62.0. The move down is expected to continue, but a small double bottom around $60.27 indicates prices will probably challenge $61.4 first. Resistance is expected to hold. Today’s decline to $60.27 fulfilled important projections for recent … Continue reading Crude Oil Short-Term Forecast – March 13, 2018

Short-Term Natural Gas Forecast – March 7, 2018

Posted on March 07, 2018 by Dean Rogers in Natural Gas Price Forecast

Since February 12, April natural gas had risen in a choppy upward sloping range that formed a bearish flag. However, prices broke higher out of the flag today and settled above the pattern’s upper trend line. The flag’s failure to break lower is bullish for the near-term and calls for a larger upward correction before … Continue reading Short-Term Natural Gas Forecast – March 7, 2018

Crude Oil Short-Term Forecast – March 6, 2018

Posted on March 06, 2018 by Dean Rogers in Oil Price Forecast

The long-term outlook remains slightly negative for WTI crude oil, but the near-term outlook seems to switch from positive to negative on a day-to-day basis. This generally reflects a market that is unsure of itself and could indicate a trading range is forming. For now, though, given today’s failure to settle above the equal to … Continue reading Crude Oil Short-Term Forecast – March 6, 2018