Natural Gas Price Forecast – January 20, 2021
Natural gas took a bearish turn during the first half of the week. However, crucial support at $2.51 has held on a closing basis. Also, today’s hammer suggests prices might consolidate into a trading range for the interim.
Crude Oil Price Forecast – January 19, 2021
WTI’s bearish engulfing line and double top around $53.9 are still intact. Near-term odds continue to lean in favor of a deeper test of support. Closing below $52.3 will confirm the double top and clear the way for WTI to fall toward the pattern’s $50.6 target.
Gold Price Forecast – January 14, 2021
The near-term outlook for gold leans bearish. Closing below $1835 will clear the way for $1820 and lower. However, there is some technical evidence that suggest $1873 might be challenged first.
Natural Gas Price Forecast – January 13, 2021
Natural gas adopted a bullish outlook after rising to $2.899 earlier this week. However, the current throwback will likely test $2.66 before the move up continues. Support at $2.66 is expected to hold.
Crude Oil Price Forecast – January 12, 2021
WTI crude oil is overbought and overdue for a significant test of support. However, today’s move up wiped out Monday’s bearish reversal patterns and signals. Therefore, the near-term outlook remains bullish, but caution is warranted.
Gold Price Forecast – January 7, 2021
Gold has adopted a more positive outlook during the last few weeks. However, near-term odds favor a deeper test of support before gold challenges a long-term bullish decision point at $1974.
Natural Gas Price Forecast – January 6, 2021
The outlook for natural gas is bullish. A close above $2.74 and rise above the $2.775 swing high will confirm that a winter bottom has been made. However, there are a few bearish warning signals that suggest a test of $2.66 and possibly $2.58 might take place first.
Crude Oil Price Forecast – January 5, 2021
WTI crude oil shook off yesterday’s decline with ease, reflecting a bullish shift in external factors. WTI is now poised to reach a highly confluent target and probable stalling point at $52.1 during the next few days.
Gold Price Forecast – December 17, 2020
The outlook for gold is bullish after challenging crucial resistance at $1894 today. Nevertheless, this is a highly confluent objective, so there is a reasonable chance for a pullback first. Support at $1852 is expected to hold and $1833 is key.
Natural Gas Price Forecast – December 16, 2020
Natural gas appears to be forming a small five-wave pattern that targets $2.80. However, another daily hanging man warns that the move up might be a simple three-wave correction that is stalling around $2.70 instead.