Gold Price Forecast – May 6, 2021
Gold settled above a highly confluent $1806 objective today and is now poised to challenge the $1676 double bottom’s target at $1837 in the coming days. Support at $1801 is expected to hold and $1787 is key support for the near-term outlook.
Natural Gas Price Forecast – May 5, 2021
Natural gas is still poised to challenge a highly confluent $3.03 target. However, the move up is showing signs of exhaustion. For now, support is expected to hold, but downside risk is increasing.
Crude Oil Price Forecast – May 4, 2021
The outlook for WTI is bullish and the move up is poised to reach $66.7 and then a major objective at $67.7 during the next few days. However, there are a few technical factors that warn a test of support might take place first.
Gold Price Forecast – April 29, 2021
Gold’s pullback from $1798.4 still looks corrective. Odds favor a continued rise and a close above $1791 will clear the way for at least $1806. However, downside risk is increasing and a close below $1738 will call for a test of major support at $1724.
Natural Gas Price Forecast – April 28, 2021
The outlook for natural gas is bullish and the wave formations call for a test of $3.03. However, a daily shooting star warns that a test of $2.91 and possibly $2.87 will probably take place first. Closing below $2.87 would shift near-term odds in favor of a deeper test of support.
Crude Oil Price Forecast – April 27, 2021
WTI confirmed a double bottom and broke higher out of an intra-day coil this afternoon. The move up is poised to challenge at least $63.5 and likely $64.2 during the next day or so. Support at $61.7 is expected to hold.
Gold Price Forecast – April 15, 2021
Gold has reconfirmed a double bottom around $1676 by settling well above $1756 today. The move up is now poised to reach $1776 and likely $1788 during the next few days. The double bottom’s target is $1837.
Natural Gas Price Forecast – April 14, 2021
Near-term odds for natural gas still bullish and a test of $2.69 is expected. However, today’s shooting star warns that the move up might be short-lived and that natural gas could remain range-bound.
Crude Oil Price Forecast – April 13, 2021
WTI continues to trade in a range, but near-term odds lean in favor of challenging $61.4. Closing above this will call for $62.5 and then a bullish decision point at $63.8. Conversely, should WTI take out $59.1, look for another test of support within the trading range that could lead to a test of a bearish decision point at $55.7.
Gold Price Forecast – April 8, 2021
Gold confirmed a double bottom around $1676 by settling above $1756 today. The move up is now poised to reach $1770 and likely $1788 during the next few days. The double bottom’s target is $1837.
