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WTI Crude Oil Short-Term Forecast – October 31, 2017

Posted on October 31, 2017 by Dean Rogers in Oil Price Forecast

December WTI crude oil had a legitimate chance for the corrective move down from $54.46 to extend today after setting up a daily evening star and intraday head and shoulders formation. However, support held, and prices rose at the end of the day, settling above the key $54.2 target and opening the way for $55.0 … Continue reading WTI Crude Oil Short-Term Forecast – October 31, 2017

Natural Gas Short-Term Forecast – October 18, 2017

Posted on October 18, 2017 by Dean Rogers in Natural Gas Price Forecast

November natural gas met support at $2.85, the intermediate (1.382) target of the wave $3.036 – 2.908 – 3.026. This wave is now in position to extend to its $2.81 larger than (1.618) target. This is an important objective because it is also the smaller than (0.618) target of the waves $3.214 – 2.827 – … Continue reading Natural Gas Short-Term Forecast – October 18, 2017

WTI Crude Oil Short-Term Forecast – October 11, 2017

Posted on October 11, 2017 by Dean Rogers in Oil Price Forecast

Many near-term factors are positive for WTI crude oil. Tuesday’s move up confirmed a daily morning star, today’s move settled above the $51.22 swing high, and last week’s $50.5 midpoint has been overcome. These factors call for the move up to continue, but caution is warranted. WTI met and held the exact 62 percent retracement … Continue reading WTI Crude Oil Short-Term Forecast – October 11, 2017

Natural Gas Short-Term Forecast – October 11, 2017

Posted on October 11, 2017 by Dean Rogers in Natural Gas Price Forecast

November natural gas overcame $2.94 but could not settle above this highly confluent threshold. The pullback from $2.962 formed a long upper shadow on the daily chart. Patterns like this that have formed during the past few weeks have been early warnings that the corrective moves up have stalled. This is probably the case again, … Continue reading Natural Gas Short-Term Forecast – October 11, 2017

Natural Gas Short-Term Forecast – October 4, 2017

Posted on October 04, 2017 by Dean Rogers in Natural Gas Price Forecast

November natural gas’ initial rise to $2.977 overcame Monday’s $2.967 midpoint. However, prices could not close above that level and the subsequent decline has already retraced 50 percent of the move up from $2.88. The candlestick’s long upper shadow indicates today’s move up was most likely a failed attempt to overcome resistance. Therefore, odds still … Continue reading Natural Gas Short-Term Forecast – October 4, 2017

Crude Oil Forecast: WTI Challenges 62% Retracement

Posted on September 26, 2017 by Dean Rogers in Oil Price Forecast

November WTI crude oil met the 62 percent retracement of November’s decline from the 2017 $58.37 swing high to $42.8 at $52.42 when it rose to $52.43 early this morning. This is major resistance because it is also a confluent wave projection. Settling above $52.6, the upper end of the confluence range around $52.42, would … Continue reading Crude Oil Forecast: WTI Challenges 62% Retracement

Crude Oil Forecast: Crucial Resistance at $51.3

Posted on September 19, 2017 by Dean Rogers in Oil Price Forecast

WTI crude oil has formed strong resistance between $50.82 and $50.88. This level has been challenged three times over the past few days and held. One might argue that this is a triple top. However, the decline from $50.88 has been extremely shallow and choppy indicating it is most likely corrective. This afternoon’s move up … Continue reading Crude Oil Forecast: Crucial Resistance at $51.3

Natural Gas Forecast: October Looking for $3.12

Posted on September 13, 2017 by Dean Rogers in Natural Gas Price Forecast

October natural gas settled above $3.03 and fulfilled the $3.06 target. The next objective is $3.09, the equal to (1.00) target of the wave $2.88 – 3.088 – 2.885. The key objective is $3.12, the smaller than (0.618) target of the wave $2.799 – 3.042 – 2.88. This has been strong resistance all summer for … Continue reading Natural Gas Forecast: October Looking for $3.12