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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

Natural Gas Forecast: Correction Forms Bearish Pennant

Posted on August 17, 2016 by Dean Rogers in Natural Gas Price Forecast

Late last week, September natural gas fulfilled important support near $2.51 when prices fell to $2.523. This is the 1.00 projection of the wave down from $2.99, the 50 percent retracement of the move up from $2.009, and the 62 percent retracement from $2.195. The confluence of targets around $2.51 indicate it is a potential … Continue reading Natural Gas Forecast: Correction Forms Bearish Pennant

Crude Oil Forecast: WTI Overcomes Important Technical Levels

Posted on August 15, 2016 by Dean Rogers in Oil Price Forecast

September WTI crude oil’s settle above $44.4 Friday and $45.7 Monday has opened the way for the move up to continue. The Stochastic has risen into overbought territory, but there is no technical evidence the move will stall. The next targets are $46.3, $47.0, and $47.9. The $47.9 level is a crucial confluence point split … Continue reading Crude Oil Forecast: WTI Overcomes Important Technical Levels

Natural Gas Forecast: Correction Poised to Test $2.51

Posted on August 10, 2016 by Dean Rogers in Natural Gas Price Forecast

September natural gas’s correction down from $2.99 is extending after breaking lower out of a coil formation. Tuesday’s close below $2.66, the 0.618 projection of the wave $2.99 – 2.591 – 2.911, opened the way for the 1.00 projection at $2.51. The $2.51 target is also the 50 percent retracement of the move up from … Continue reading Natural Gas Forecast: Correction Poised to Test $2.51

Crude Oil Forecast: WTI’s Correction Gains Ground

Posted on August 08, 2016 by Dean Rogers in Oil Price Forecast

September WTI crude oil’s correction up from $39.19 gained ground on Monday when it settled above $42.8. Media outlets indicate the rise was due renewed hopes that OPEC members might consider freezing production levels. OPEC announced on Monday that they would hold informal talks at an energy conference in September. That said, from a technical … Continue reading Crude Oil Forecast: WTI’s Correction Gains Ground