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Natural Gas Forecast: December Holds 200-Day Moving Average

Posted on October 26, 2016 by Dean Rogers in Natural Gas Price Forecast

Natural gas has fallen hard ahead of November’s expiration. Speculation that natural gas storage could reach record levels ahead of winter and warmer than normal weather forecasts for the next few weeks are reportedly reasons for falling prices. Prompt month November futures fell to $2.627 on Wednesday where the 62 percent retracement of the move … Continue reading Natural Gas Forecast: December Holds 200-Day Moving Average

Crude Oil Forecast: WTI Unable to Confirm Double Top

Posted on October 24, 2016 by Dean Rogers in Oil Price Forecast

Traders are reportedly waiting for more information regarding the tentative OPEC deal to cut crude oil production before making up their minds about whether to be bullish. Some pundits say that until the deal is confirmed next month, crude oil prices may continue to soften. A stronger U.S. dollar also reportedly weighed on crude oil … Continue reading Crude Oil Forecast: WTI Unable to Confirm Double Top

Natural Gas Forecast: NGX16 Forms Intra-Day Bearish Flag

Posted on October 19, 2016 by Dean Rogers in Natural Gas Price Forecast

Natural gas was spurred higher last Thursday after government data showed a smaller than expected build for the week ended October 7. However, the move’s strength and resilience reportedly came as a surprise for many market participants due to mild weather across most of the U.S. The market remains well supplied according to many analysts … Continue reading Natural Gas Forecast: NGX16 Forms Intra-Day Bearish Flag

Crude Oil Forecast: WTI’s Correction in Position to Extend

Posted on October 17, 2016 by Dean Rogers in Oil Price Forecast

Last week, after WTI crude oil surged higher on Monday, prices eased a bit and an overdue correction started. Media sources indicate prices fell due to concern about persistent oversupply. Traders are reportedly waiting for new bullish news to push prices higher. In addition, skeptics remain doubtful that OPEC will be able to follow through … Continue reading Crude Oil Forecast: WTI’s Correction in Position to Extend

Natural Gas Forecast: Correction Poised to Extend

Posted on October 12, 2016 by Dean Rogers in Natural Gas Price Forecast

Media sources state that traders and analysts are looking to current warm weather in the south and anticipation of a colder than normal winter as catalysts for higher natural gas prices. However, some reports indicate many traders and analysts remain skeptical and have stated that the move up is too soon in anticipation of real … Continue reading Natural Gas Forecast: Correction Poised to Extend

Crude Oil Forecast: WTI Approaching Key Resistance

Posted on October 10, 2016 by Dean Rogers in Oil Price Forecast

WTI has primarily risen on the momentum created by the tentative agreement between OPEC members to cut production by 200,000 to 700,000 barrels per day in coming months. The details of such a deal are still being ironed out and would have to be ratified at OPEC’s meeting in November. Some traders and analysts reportedly … Continue reading Crude Oil Forecast: WTI Approaching Key Resistance

Natural Gas Forecast: November Rises Back Above $3.00

Posted on October 05, 2016 by Dean Rogers in Natural Gas Price Forecast

November natural gas has shown signs of strength over the past few days. November held support near $2.90 and on Tuesday completed a daily hammer when prices settled above $2.94. A bullish RSI divergence was confirmed at $2.866 on several intra-day charts. On Wednesday, the move up rallied to a very important $3.05 target ahead … Continue reading Natural Gas Forecast: November Rises Back Above $3.00

Crude Oil Forecast: WTI Overcomes $48.38 Swing High

Posted on October 04, 2016 by Dean Rogers in Oil Price Forecast

Bullish optimism regarding OPEC’s preliminary agreement to cut crude oil production has reportedly fueled the move higher during the past week. The news came last Wednesday after members met during a conference in Algeria. OPEC will meet again on November 30 to further discuss and possibly ratify the deal. However, many are still skeptical that … Continue reading Crude Oil Forecast: WTI Overcomes $48.38 Swing High

Crude Oil Forecast: Near-Term Outlook Negative

Posted on September 19, 2016 by Dean Rogers in Natural Gas Price Forecast

Reports indicate increasing OPEC exports out of Nigeria and Libya and a partial shutdown of a major U.S. gasoline pipeline weighed on crude oil prices last week. In addition, U.S. rig counts rose to 416, the highest level since February. That said, some traders are turning their attention to the late September meeting between members … Continue reading Crude Oil Forecast: Near-Term Outlook Negative

Natural Gas Forecast: Move Up Stalls…Again

Posted on September 14, 2016 by Dean Rogers in Natural Gas Price Forecast

Natural gas continues to oscillate in an erratic and corrective range. After stalling near $3.00 on July 1, the prompt-month futures contracts have challenged the boundaries of a range between nominally $2.53 and $2.95. This is similar to the range that natural gas traded in for nearly nine months of 2015 before breaking lower in … Continue reading Natural Gas Forecast: Move Up Stalls…Again