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.
Natural Gas Price Forecast – March 10, 2021
Natural gas is struggling to take out support at $2.60 and extend to the next major downside target at $2.53. Odds still favor this move, but a test of $2.74 and possibly $2.79 first has become likely. Resistance at $2.79 is expected to hold.
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.
