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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

Crude Oil Forecast: WTI Oscillating in Corrective Range

Posted on September 12, 2016 by Dean Rogers in Oil Price Forecast

Charts tell us what the market knows about itself, and right now, WTI crude oil is confused. There are many competing fundamental, technical, and geopolitical factors in play at the moment. Therefore, no one factor has a clear and decisive edge over the others. October WTI is oscillating in a corrective range and will most … Continue reading Crude Oil Forecast: WTI Oscillating in Corrective Range

Natural Gas Forecast: Pullback Stalls at $2.81

Posted on August 31, 2016 by Dean Rogers in Natural Gas Price Forecast

According to some pundits, natural gas’s recent move up is due to improved balancing of supply and demand. Government data shows the degree to which inventories are up this year relative to the five-year average has continued to shrink. It has been a hot summer, and demand has remained relatively strong. That said, production has done … Continue reading Natural Gas Forecast: Pullback Stalls at $2.81

Crude Oil Forecast: WTI’s Correction Poised to Extend

Posted on August 29, 2016 by Dean Rogers in Oil Price Forecast

On Friday, WTI crude oil prices pulled back sharply after the U.S. Federal Reserve signaled short-term interest rates may be raised in coming weeks. The U.S. dollar rose, and oil prices fell. The week ended on a negative note, and the corrective pullback extended again on Monday. Aside from the stronger dollar, media outlets also … Continue reading Crude Oil Forecast: WTI’s Correction Poised to Extend

Natural Gas Forecast: September Rises to Key Resistance

Posted on August 24, 2016 by Dean Rogers in Natural Gas Price Forecast

Media sources indicate natural gas prices rose for the third straight session on Wednesday due to concerns that a storm could enter the Gulf of Mexico. However, hurricane threats to production are not as alarming as they had been in the past. The Gulf of Mexico accounts for less than five percent of domestic natural … Continue reading Natural Gas Forecast: September Rises to Key Resistance

How is Technical Analysis Used?

Posted on August 23, 2016 by Dean Rogers in Technical Analysis

Technical analysis is technical. This means there are mathematics, charts, and statistics involved. Some interested in studying and using technical analysis are dismayed when they encounter numbers and charts. A math, engineering, science, or financial degree is not required to make use of technical analysis. However, an orientation towards structuring a view of reality mathematically … Continue reading How is Technical Analysis Used?

Crude Oil Forecast: WTI Confirms Bearish Evening Star

Posted on August 22, 2016 by Dean Rogers in Oil Price Forecast

Declines in U.S. crude oil and gasoline inventories, a weaker U.S. dollar, and recent indications that OPEC and other major producers could take measures to stabilize prices are reportedly catalysts for last week’s near eight percent gain. However, some pundits believe the recent rally may keep the market oversupplied as higher prices could encourage more … Continue reading Crude Oil Forecast: WTI Confirms Bearish Evening Star