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
Gold Price Forecast – November 19, 2020
Gold Technical Analysis and Near-Term Outlook The near-term outlook for gold remains bearish after holding resistance around $1898 and taking out the $1853.9 swing low today. The move down will likely be a grind for the interim, but the wave formations call for $1843. Settling below this will clear the way for $1825 and then … Continue reading Gold Price Forecast – November 19, 2020
Natural Gas Price Forecast – November 18, 2020
Natural Gas Technical Analysis and Near-Term Outlook Natural gas settled below crucial support around $2.72 for the third straight day. Odds continue to favor a larger decline and a test of the next major objective at $2.51. Falling below $2.68 will call for $2.63, which then connects to $2.51. Nevertheless, Tuesday’s long-legged doji and Wednesday’s … Continue reading Natural Gas Price Forecast – November 18, 2020
Crude Oil Price Forecast – November 17, 2020
WTI Crude Oil Technical Analysis and Short-Term Forecast The focus of the WTI analysis is switched to the January 2021 contract today because December will expire on Friday, November 20. The outlook for WTI remains clouded as the market is sorting through a multitude of external factors, most importantly COVID-19 related news, that seems to … Continue reading Crude Oil Price Forecast – November 17, 2020
Gold Price Forecast – November 12, 2020
Gold Technical Analysis and Near-Term Outlook The outlook for gold is bearish and the move down is still in a position to eventually reach $1814. This is the equal to (1.00) target of the primary wave down from $2089.2. The connection to $1814 is made through $1854 and $1841. Nevertheless, today’s $1883.0 high fulfilled the … Continue reading Gold Price Forecast – November 12, 2020
Natural Gas Price Forecast – November 11, 2020
Natural Gas Technical Analysis and Near-Term Outlook Natural gas rose to challenge important near-term resistance around $3.05 this afternoon. This is a confluent wave projection and the 38 percent retracement of the decline from $3.396. This is also a potential stalling point. However, today’s close above $3.03, the smaller than (0.618) target of the primary … Continue reading Natural Gas Price Forecast – November 11, 2020
Crude Oil Price Forecast – November 10, 2020
WTI Crude Oil Technical Analysis and Short-Term Forecast The outlook for WTI crude oil is firmly bullish and the move up is poised to challenge crucial resistance at $42.0. This is a highly confluent wave projection, retracement, and swing high. Overcoming $42.0 will invalidate the primary wave down from $44.33 that had called for $32.0 … Continue reading Crude Oil Price Forecast – November 10, 2020
Gold Price Forecast – November 5, 2020
Gold Technical Analysis and Near-Term Outlook Gold rallied and settled above the 50-day moving average and the 38 percent retracement of the decline from $2089.2. This is bullish for the near-term outlook and reflects a positive shift in near-term sentiment. The move up is now poised to challenge $1963, $1979, and possibly $1999 during the … Continue reading Gold Price Forecast – November 5, 2020
Natural Gas Price Forecast – November 4, 2020
Natural Gas Technical Analysis and Near-Term Outlook Then near-term outlook for natural gas remains bearish and a close below $3.03 will call for another attempt at $2.98 and lower. However, as stated in yesterday’s update, the decline from $3.369 lacks a wave structure that can sustain a larger test of support without testing resistance soon. … Continue reading Natural Gas Price Forecast – November 4, 2020
Crude Oil Price Forecast – November 3, 2020
WTI Crude Oil Technical Analysis and Short-Term Forecast WTI crude oil has adopted a bullish near-term outlook after settling above $37.7, the 38 percent retracement of the decline from $44.33 and the 50 percent retracement from $41.90. This is also last week’s midpoint. The move up is now poised to challenge a crucial near-term target … Continue reading Crude Oil Price Forecast – November 3, 2020
