Gold Price Forecast – January 28, 2021
Gold retains a bearish near-term outlook. Barring any random influence from external factors, gold is poised to reach $1817. Closing below this will clear the way for $1802 and lower. Resistance at $1855 is expected to hold and $1874 is the barrier to a renewed positive near-term outlook.
Natural Gas Price Forecast – January 27, 2021
Natural gas is poised to test a bullish decision point at $2.78. However, today’s late pullback from $2.74 suggests a test of $2.62 will probably take place first. Support at $2.62 should hold. Closing below this would signal that prices are settling into a trading range.
Crude Oil Price Forecast – January 26, 2021
WTI crude oil stalled at $53.3 resistance and the subsequent pullback is poised to extend tomorrow. Taking out $51.8 will clear the way for the recent triple top’s $50.6 target.
Gold Price Forecast – January 21, 2021
Gold gained a bit of bullish momentum yesterday and is poised to reach $1885 during the next few days. However, today’s hanging man suggests the move up might be short-lived. Closing below $1829 will confirm a bearish reversal.
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.
