Crude Oil Price Forecast – April 6, 2021
WTI is still stuck in a trading range. Near-term odds lean bearish, but the primary takeaway from today’s analysis is to watch for either a close below $57.2 or above $62.5 in the coming days. Closing beyond either threshold would then call for a test of the longer-term bearish or bullish decision points at $55.7 or $63.8, respectively.
Natural Gas Price Forecast – March 31, 2021
Natural gas has formed a bearish flag that is poised to break lower upon a close below $2.57. Settling below $2.57 will clear the way for $2.51 and lower.
Crude Oil Price Forecast – March 30, 2021
WTI is still stuck in a trading range. Trading is expected to be erratic and somewhat indecisive ahead of the OPEC+ meeting later this week. Even so, an intra-day head and shoulders pattern suggests a test of support within the trading range will like take place tomorrow.
Gold Price Forecast – March 25, 2021
Gold remains indecisive, but the move up from $1673.3 is most likely corrective. Near-term odds lean in favor of a continued decline and a close below $1720 will call for $1707 and possibly lower during the next few days.
Natural Gas Price Forecast – March 24, 2021
Natural gas is hesitant to definitively take out $2.50. However, near-term odds continue to favor $2.45 and then $2.40. Resistance at $2.56 is expected to hold and $2.61 is key.
Crude Oil Price Forecast – March 23, 2021
The near-term outlook for WTI remains bearish and the move down is unfolding as either a five-wave pattern or a three-wave extension. Tomorrow’s move down should shed more light on the wave count. However, in either case, WTI is poised to reach targets in the low $50s.
Gold Price Forecast – March 18, 2021
The outlook for gold in the coming weeks is bearish and the decline is positioned to eventually challenge $1631. The recent move up from $1673.3 is likely corrective and is already showing signs that it might be complete.
Natural Gas Price Forecast – March 17, 2021
The long-term outlook for natural gas is bearish and Monday’s close below $2.52 calls for an eventual decline to $2.39 and $2.30. However, based on the small wave up from $2.478, near-term odds lean in favor of testing $2.59 first.
Crude Oil Price Forecast – March 16, 2021
The next substantial move for WTI crude oil will likely be determined by either a close below $63.4 or above $65.8. As of this afternoon, odds lean slightly in favor of at least a test of $63.4. A move below $64.3 early tomorrow will increase those odds.
Gold Price Forecast – March 11, 2021
Gold’s move up is most likely corrective of the decline that is still poised to reach $1631. The correction is positioned to reach $1750. However, the correction could prove to be short-lived. Should gold fall below $1713 early tomorrow look for a test of key near-term support at $1698 instead.
