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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

Natural Gas Forecast: September Trying to Break Out of Range

Posted on August 03, 2016 by Dean Rogers in Natural Gas Price Forecast

September natural gas is trying to break higher out of the month long trading range. Two important boundaries have been established within the range. First between $2.71 and $2.84. Second between $2.66 and $2.96. Prices rose above $2.84 in early trading Wednesday, but closed just below at $2.839. Nonetheless, prices will likely push for at … Continue reading Natural Gas Forecast: September Trying to Break Out of Range

Natural Gas Forecast: Daily Shooting Star Warns of Correction

Posted on June 29, 2016 by Dean Rogers in Natural Gas Price Forecast

August natural gas pushed to new highs Tuesday and early Wednesday before stalling at $2.974. Cooler than previously expected near-term temperature forecasts are reportedly the culprit for Wednesday’s pullback and settle at $2.863. Longer-term, the outlook for natural gas is positive and is most likely forming a five-wave trend. The move up is due for … Continue reading Natural Gas Forecast: Daily Shooting Star Warns of Correction

Crude Oil Forecast: Technical Factors Negative for WTI

Posted on June 27, 2016 by Dean Rogers in Oil Price Forecast

The U.K.’s vote for Brexit came as a shock to many investors and traders around the world. Equity markets have tumbled and crude oil followed suit as the U.S. dollar has risen substantially. Some pundits think the downturn in oil has been overdue, and warn that the market is still oversupplied and could slip further … Continue reading Crude Oil Forecast: Technical Factors Negative for WTI

Natural Gas Forecast: Overdue Correction Poised to Extend

Posted on June 22, 2016 by Dean Rogers in Natural Gas Price Forecast

July natural gas rose to a new high for 2016 when it overcame the January 8 swing high of $2.635. The move up extended to crucial resistance near $2.75 and stalled. $2.75 is a confluent target. Most importantly, it is the 1.382 projection of the primary wave $1.949 – 2.427 – 2.08. Negative Factors July’s … Continue reading Natural Gas Forecast: Overdue Correction Poised to Extend

Crude Oil Forecast: August WTI Positioned to Rise Above $50.0 Again

Posted on June 20, 2016 by Dean Rogers in Oil Price Forecast

The falling U.S. dollar and higher probability the U.K. will vote to remain in the European Union are reportedly causes for crude oil’s recovery. However, some analysts have stated that increasing U.S. rig counts and production coming back online in Canada will keep a lid on oil prices for the near term. August WTI crude … Continue reading Crude Oil Forecast: August WTI Positioned to Rise Above $50.0 Again

Natural Gas Forecast: July Challenges Its 2016 High

Posted on June 15, 2016 by Dean Rogers in Natural Gas Price Forecast

Warm summer weather and a smaller than expected build reported last Thursday were allegedly the catalysts for the surge higher to $2.635. The recent string of smaller than expected builds has some analysts and traders speculating that the glut of gas in storage may shrink much faster than originally expected. July natural gas challenged its … Continue reading Natural Gas Forecast: July Challenges Its 2016 High

Crude Oil Forecast: WTI Stalls, Correction Poised to Extend

Posted on June 13, 2016 by Dean Rogers in Oil Price Forecast

As WTI crude oil prices fall from the recent $51.67 high, some reports indicate the pullback is due to the rising U.S. dollar and increased rig counts for the second week in a row. Pundits have also stated the sharp price surge could encourage some producers to increase production, keeping the market oversupplied. Others still … Continue reading Crude Oil Forecast: WTI Stalls, Correction Poised to Extend

Natural Gas Forecast: Prices Rise to New 2016 High

Posted on June 08, 2016 by Dean Rogers in Natural Gas Price Forecast

Natural gas prices have risen sharply over the past seven days. July rose to $2.501 in early trading Wednesday, overcoming the continuation chart’s $2.495 high for 2016. Reports indicate the surge has been due to forecasts for higher temperatures in coming weeks. However, some think the move up may be too aggressive considering storage levels … Continue reading Natural Gas Forecast: Prices Rise to New 2016 High