Natural Gas Price Forecast – September 30, 2020
Natural Gas Technical Analysis and Near-Term Outlook Natural gas held major support at $2.43 and today’s move up implies that a larger test of resistance should take place tomorrow. The move up is still considered to be corrective of the recent decline and must settle above $2.67 to state that the move down might be … Continue reading Natural Gas Price Forecast – September 30, 2020
Crude Oil Price Forecast – September 29, 2020
WTI Crude Oil Technical Analysis and Short-Term Forecast WTI crude oil’s move up from $38.87 stalled short of the $41.1 objective and finally proved to be corrective of the decline from $41.72. WTI took out the $39.0 smaller than (0.618) target of the primary wave down from $41.72 and stalled marginally below the 62 percent … Continue reading Crude Oil Price Forecast – September 29, 2020
Gold Price Forecast – September 24, 2020
Gold Technical Analysis and Near-Term Outlook The outlook for December COMEX gold is bearish after breaking lower out of a coil pattern last week and settling below a crucial $1888 objective on Wednesday. The sustained close below $1888, the smaller than (0.618) target of the primary wave down from $2089.2, calls for gold to reach … Continue reading Gold Price Forecast – September 24, 2020
Natural Gas Price Forecast – September 23, 2020
Natural Gas Technical Analysis and Near-Term Outlook October natural gas finally rallied after holding support around $1.82. The prompt month’s move up should be bolstered by rising winter prices and a bullish shift in near-term external factors. October settled below $2.16, the 38 percent retracement of the decline from $2.743 and the XC (2.764) projection. … Continue reading Natural Gas Price Forecast – September 23, 2020
Crude Oil Price Forecast – September 22, 2020
WTI Crude Oil Technical Analysis and Short-Term Forecast The near-term outlook for November WTI crude oil leans bullish after holding the 100-day moving average for the second straight day and holding the 50 percent retracement of the rise from $36.58 on a closing basis. This is a tight call though, and today’s long-legged doji reflects … Continue reading Crude Oil Price Forecast – September 22, 2020
Gold Price Forecast – September 17, 2020
Gold Technical Analysis and Near-Term Outlook The near-term outlook for gold is bearish after finally breaking lower out of a coil pattern and settling below the pattern’s lower trend line. Gold also settled below the 20-day moving average. The move down is now poised to reach at least $1929. This is the smaller than (0.618) … Continue reading Gold Price Forecast – September 17, 2020
Natural Gas Price Forecast – September 16, 2020
Natural Gas Technical Analysis and Near-Term Outlook The near-term outlook for natural gas has shifted back to being firmly bearish. Yesterday’s move up proved to be another pullback to challenge the neckline of the complex head and shoulders. Also, natural gas settled below the crucial $2.28 objective and fell toward another important target at $2.22 … Continue reading Natural Gas Price Forecast – September 16, 2020
Crude Oil Price Forecast – September 15, 2020
WTI Crude Oil Technical Analysis and Short-Term Forecast WTI crude oil broke higher out of an intra-day coil pattern (dark blue dotted lines) and settled the day above the $38.1 smaller than (0.618) target of the primary wave up from $36.13 (red). The $38.1 level was also the midpoint of the September 8 candlestick. This … Continue reading Crude Oil Price Forecast – September 15, 2020
Gold Price Forecast – September 10, 2020
Gold Technical Analysis and Near-Term Outlook Gold is trading in a narrowing range that forms a coil pattern. Coils are not exceptionally reliable patterns like flags and pennants when it comes to determining a breakout direction. However, they lean in favor of a breakout in the direction of the prior move before the coil formed, … Continue reading Gold Price Forecast – September 10, 2020
Natural Gas Price Forecast – September 9, 2020
Natural Gas Near-Term Technical Analysis and Outlook The near-term outlook for natural gas remains bearish after challenging support at $2.34 when prices fell to $2.328 today. This is a relatively important area of support because it is the intermediate (1.382) target of the first wave down from $2.743 and the 38 percent retracement of the … Continue reading Natural Gas Price Forecast – September 9, 2020
