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Crude Oil Forecast: WTI Fills Gap, Positioned to Grind Lower

Posted on April 18, 2016 by Dean Rogers in Oil Price Forecast

The failure to reach an agreement to freeze crude oil output levels for key producers caused prices to slide in early trading Monday. June WTI gapped down from Friday’s $41.19 low and met crucial support at $39.0. However, the labor strike in Kuwait, which has decreased the nation’s output by nearly 60 percent for the … Continue reading Crude Oil Forecast: WTI Fills Gap, Positioned to Grind Lower

Natural Gas Forecast: Prices on Verge of Breaking Higher Out of Trading Range

Posted on April 13, 2016 by Dean Rogers in Natural Gas Price Forecast

For the past few weeks, May natural gas has oscillated in a range between approximately $1.86 and $2.06. The market looks as though it wants to break higher after closing over Monday’s gap down from $1.99 on Tuesday and sustaining a close above $2.00 on Wednesday. May natural gas is working its way toward the … Continue reading Natural Gas Forecast: Prices on Verge of Breaking Higher Out of Trading Range

Crude Oil Forecast: WTI Setup for Potential Five-Wave Trend

Posted on April 11, 2016 by Dean Rogers in Oil Price Forecast

The highly anticipated and headline grabbing April 17 meeting between OPEC and non-OPEC nations has set the stage for crude oil’s rally. However, some traders and pundits still think the world is awash in oil and an out-put freeze has already been priced in. They anticipate an agreement to freeze production—if reached—would have little near-term … Continue reading Crude Oil Forecast: WTI Setup for Potential Five-Wave Trend

Crude Oil Forecast: WTI Poised to Challenge Support at $35.3

Posted on April 04, 2016 by Dean Rogers in Oil Price Forecast

Saudi Arabia once again made clear they will only freeze output at current levels if other nations, including Iran, also do so. Iran has balked at the idea and stated objections on numerous occasions. Reports indicate this came as a shock to bullish oil traders, some of whom had thought the Saudi’s softened their tone … Continue reading Crude Oil Forecast: WTI Poised to Challenge Support at $35.3

Natural Gas Forecast: May Stalls at Key Resistance, For Now

Posted on March 30, 2016 by Dean Rogers in Natural Gas Price Forecast

By Dean Rogers Natural gas entered into the injection season a bit earlier than normal, and as a result, prices have settled into a state of flux. It is too soon to say that a long-term bottom has been made, especially for the May contract. However, over the past few days the charts have shown … Continue reading Natural Gas Forecast: May Stalls at Key Resistance, For Now

Gasoline Forecast: May RBOB Futures Forming Fifth Wave

Posted on March 28, 2016 by Dean Rogers in Oil Price Forecast

Since early February, RBOB gasoline futures have been trending higher, forming a five-wave pattern. We follow a few simple rules when breaking down a five-wave move. Generally, each of the impulse waves (I, III, V) have to be proportional to one another, each of the impulse waves should break down into five-sub-waves, and most importantly, … Continue reading Gasoline Forecast: May RBOB Futures Forming Fifth Wave

Natural Gas Forecast: Pullback Will Test Major Support at $1.74

Posted on March 23, 2016 by Dean Rogers in Natural Gas Price Forecast

By Dean Rogers It looks as though the natural gas rally has stalled and that prices will most likely settle into a trading range. The move up had been resilient for the past few weeks, reaching a crucial target at $1.91 and nearly extending to key resistance just above $2.00. However, the lack of a … Continue reading Natural Gas Forecast: Pullback Will Test Major Support at $1.74

Crude Oil Forecast: May WTI Poised to Test $43.1 Decision Point

Posted on March 21, 2016 by Dean Rogers in Oil Price Forecast

WTI’s move up has been resilient for the past few weeks. The waves up from $29.85 may be interpreted as either a five-wave trend that is still forming Wave III or a three wave correction that has nearly completed Wave C. Technical factors indicate May WTI is approaching a decision point at $43.1. In either … Continue reading Crude Oil Forecast: May WTI Poised to Test $43.1 Decision Point

Natural Gas Forecast: Correction Poised to Extend

Posted on March 14, 2016 by Dean Rogers in Natural Gas Price Forecast

The highly anticipated natural gas correction is underway. The wave $1.611 – 1.74 – 1.687 overcame its $1.758 0.618 projection Wednesday morning. The correction should extend to at least $1.81, the 1.00 projection. A close over $1.758 would have increased odds for $1.81. Nonetheless, as long as the $1.687 swing low holds on a closing … Continue reading Natural Gas Forecast: Correction Poised to Extend