Crude Oil Price Forecast – March 9, 2021
WTI crude oil settled below $64.2 and confirmed Monday’s bearish dark cloud cover pattern. Tomorrow, look for a test of $63.1 and likely $62.5. Key support and the barrier for a much more significant test of support is currently $61.4.
Gold Price Forecast – March 4, 2021
Gold is poised to fall to $1631. However, there is near-term support at $1687 that might prove to be a temporary stalling point. Even so, any move up before reaching $1631 will likely prove to be a short-lived correction.
Natural Gas Price Forecast – March 3, 2021
Natural gas held resistance around $2.88 and is poised to test $2.77 tomorrow. Closing below $2.77 will strongly imply that the corrective move up from $2.697 is complete.
Crude Oil Price Forecast – March 2, 2021
WTI crude oil is sitting just above the 20-day moving average, a level that has held on a closing basis since early November. The waves down are also poised to challenge a bearish decision point at $58.7. Settling below this would strongly imply that an overdue and significant test of support is finally underway.
Gold Price Forecast – February 25, 2021
Gold is poised to test a crucial bearish decision point around $1756 again. A sustained close below this will substantially increase odds for a decline to $1631 in the coming weeks.
Natural Gas Price Forecast – February 24, 2021
Tomorrow will likely be a crucial day for natural gas. Based on current technical factors, the prompt month is poised to test $2.77, which then connects to $2.69 and $2.60. However, should prices rise above $2.93 look for a test of key near-term resistance at $2.96.
Crude Oil Price Forecast – February 23, 2021
WTI stalled just below a crucial technical target at $63.2 and the subsequent intraday pullback from $63.0 calls for a deeper test of support tomorrow. Falling below $60.7 will call for $59.8 and possibly lower. Settling below $58.4 would serve as a strong warning that a much more significant test of support is finally underway.
Gold Price Forecast – February 18, 2021
Gold is poised to challenge a major target and bearish decision point at $1759. Settling below this will call for an eventual decline to $1631 in the coming months. However, today’s inverted hammer warns that the move down might stall soon. Even so, any move up will most likely prove to be corrective of the decline.
Natural Gas Price Forecast – February 17, 2021
Natural gas rallied again today and has nearly met a crucial bullish decision point at $3.34. This is a potential stalling point. However, given external factors currently gripping the market, a sustained close above $3.34 will clear the way for potentially much higher prices during the next few weeks.
Crude Oil Price Forecast – February 16, 2021
WTI rallied again today and settled above the psychologically important $60.0 level. The move up is still due a deeper test of support, but odds now favor a continued rise toward the next major objective and potential stalling point at $63.2.
