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.
Crude Oil Price Forecast – December 15, 2020
The outlook for WTI crude oil is bullish and the move up is poised to reach the next major objective at $49.5. However, caution is warranted tomorrow because a small double top around $47.74 might be forming.
Gold Price Forecast – December 10, 2020
Gold is hovering above a bearish decision point at $1824. Closing below this will strongly imply that the recent upward correction is complete.
Natural Gas Price Forecast – December 9, 2020
The outlook for natural gas remains bearish due to the sustained close below $2.48. However, there are a few weak bullish momentum oscillator signals and reversal pattern setups that suggest a bottom might be forming.
Crude Oil Price Forecast – December 8, 2020
The long-term outlook for WTI is bullish. However, a confirmed daily RSI divergence and daily bearish doji suggest the pullback from $46.68 should extend a bit lower before the move up continues.
Gold Price Forecast – December 3, 2020
The near-term outlook for gold leans bullish. However, another test of the 200-day moving average around $1819 will probably take place before prices rise much higher. To retain a bullish outlook this level must hold.
Natural Gas Price Forecast – December 2, 2020
The outlook for natural gas is bearish after confirming a small intra-day double top around $3.00 today. Odds favor another test of at least $2.70 and likely major support at $2.66 tomorrow. Resistance at $2.90 is expected to hold.
Crude Oil Price Forecast – December 1, 2020
WTI crude oil’s decline from $46.26 forms a bullish flag that should break higher. However, the wave formation down from $46.26 calls for a test of crucial near-term support at $43.8 first.
Natural Gas Price Forecast – November 25, 2020
January natural gas is poised to challenge $3.09. However, $3.00 is significant resistance and there is technical evidence that calls for a likely test of $2.87 first. Support at $2.87 is expected to hold.
Crude Oil Price Forecast – November 24, 2020
WTI Crude Oil Technical Analysis and Short-Term Forecast WTI crude oil has rallied as called for in this week’s forecast and yesterday’s update. Today’s move up was more aggressive than anticipated but fulfilled a confluent target around $45.1. So far, this has proved to be a stalling point. Nonetheless, the decline from today’s $45.2 high … Continue reading Crude Oil Price Forecast – November 24, 2020

