Blog

Crude Oil Forecast: WTI in Position to Overcome $50.0 Again

Posted on June 06, 2016 by Dean Rogers in Oil Price Forecast

For the past few weeks, WTI crude oil has been trading in a tight range as it tries to sort through recent events and fundamental factors. Reports indicate Monday’s close at a 10-month high was due to concerns over continued supply disruptions and speculation that the Federal Reserve will not raise interest rates this month. … Continue reading Crude Oil Forecast: WTI in Position to Overcome $50.0 Again

Natural Gas Forecast: July Poised to Rise to $2.57

Posted on June 01, 2016 by Dean Rogers in Natural Gas Price Forecast

Prompt month natural gas futures have risen just over 20 percent after the June contract’s expiration last Thursday. Reports indicate traders are expecting increased demand for the fuel due to warmer than normal summer weather in coming weeks. Technical factors have also turned positive and call for rising prices to challenge and likely overcome the … Continue reading Natural Gas Forecast: July Poised to Rise to $2.57

Natural Gas Forecast: July Holds Crucial Support at $2.13

Posted on May 25, 2016 by Dean Rogers in Natural Gas Price Forecast

The spread between the June and July contracts ahead of June’s expiration on Thursday has weighed on the front of the market. However, July natural gas challenged crucial support at $2.13 Wednesday and held this level on a closing basis while June stalled again near key support at $1.95. The longer-term is beginning to look … Continue reading Natural Gas Forecast: July Holds Crucial Support at $2.13

Crude Oil Forecast: WTI’s Decline Corrective – Support Expected to Hold

Posted on May 23, 2016 by Dean Rogers in Oil Price Forecast

Reports indicate traders and investors have been focused on the return of crude oil from recent worldwide supply disruptions, primarily in Canada and Nigeria, in addition to swelling output from Iran. The rising U.S. dollar has also put bearish pressure on prices after the Fed’s latest policy meeting notes suggested a June rate hike possible. … Continue reading Crude Oil Forecast: WTI’s Decline Corrective – Support Expected to Hold

Crude Oil Forecast: June WTI Poised for Decline to at Least $42.5

Posted on May 09, 2016 by Dean Rogers in Oil Price Forecast

Supply disruptions due to wildfires in Alberta and militant attacks in Nigeria were reportedly offsetting rising stockpiles of crude oil and surging OPEC output. However, those factors seem to be easing, and may not have as much of an impact on supply as originally indicated. U.S. crude inventories reached their highest level since 1929, but … Continue reading Crude Oil Forecast: June WTI Poised for Decline to at Least $42.5

Natural Gas Forecast: June Rises Toward Key Resistance at $2.195

Posted on May 04, 2016 by Dean Rogers in Natural Gas Price Forecast

Natural gas continues to send mixed signals on a day-to-day basis. However, that is pretty typical for this time of year during the shoulder months ahead of summer. Natural gas is trying to gauge the prospects of a recovery or a continued decline over the course of the longer-term, but it needs to gather more … Continue reading Natural Gas Forecast: June Rises Toward Key Resistance at $2.195

Crude Oil Forecast: June WTI Challenges Support at $44.5

Posted on May 02, 2016 by Dean Rogers in Oil Price Forecast

The crude oil price surge over the last few weeks was reportedly due to slipping U.S. production, a weaker U.S. dollar, and several production outages. However, some pundits are growing concerned that swelling OPEC output could keep the market oversupplied and turn prices lower. The move up stalled near a highly confluent $46.0 target late … Continue reading Crude Oil Forecast: June WTI Challenges Support at $44.5

Natural Gas Forecast: June Challenges Support at $2.13

Posted on April 27, 2016 by Dean Rogers in Natural Gas Price Forecast

After breaking higher out of the recent trading range between nominally $1.96 and $2.13, June natural gas stalled at $2.304. This was just below important resistance at $2.33, which connects to $2.43. Monday’s bearish engulfing line and confirmed divergence (purple down arrow on KaseX) called for a test of $2.13. This was strong resistance between … Continue reading Natural Gas Forecast: June Challenges Support at $2.13

Crude Oil Forecast: June WTI Confirms Double Top, Decline Likely Corrective

Posted on April 25, 2016 by Dean Rogers in Oil Price Forecast

Late last week, June WTI crude oil challenged key resistance at $44.5. This is a confluence point, and most importantly, the 1.618 projection of Wave I (not shown), $30.79 – 38.52 – 32.1. A close over $44.5 will open the way for the next leg higher, which could push WTI crude oil prices into the … Continue reading Crude Oil Forecast: June WTI Confirms Double Top, Decline Likely Corrective

Natural Gas Forecast: May Stalls at Key Resistance

Posted on April 20, 2016 by Dean Rogers in Natural Gas Price Forecast

Forecasts for warmer than normal temperatures next week in the Midwest and mid-Atlantic spurred natural gas higher on Tuesday. For several weeks the May natural gas contract oscillated in a range between approximately $1.86 and $2.04. The range was finally broken when prices settled above $2.04. That said, the move up may have been too … Continue reading Natural Gas Forecast: May Stalls at Key Resistance