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
Crude Oil Price Forecast – September 8, 2020
WTI Crude Oil Short-Term Price Forecast WTI crude oil fell as called for in this week’s Kase Commentary on Crude Oil but has reached the crucial $36.0 objective much faster than anticipated. The $36.0 objective is split between the $36.11 larger than (1.618) target of the primary wave down from $43.78 and the $35.94 38 … Continue reading Crude Oil Price Forecast – September 8, 2020
Gold Price Forecast – September 3, 2020
Gold Technical Analysis and Near-Term Outlook Gold is trading in a narrowing range that forms a coil pattern. Coils reflect indecisiveness and are not the most reliable patterns. Even so, they generally break in the direction of the prior move, in this case, down. Today’s decline to $1927.2 challenged the lower trend line of the … Continue reading Gold Price Forecast – September 3, 2020
Natural Gas Price Forecast – September 2, 2020
Natural Gas Near-Term Outlook Natural gas confirmed an intra-day head and shoulders reversal pattern by settling below $2.50 today. The pattern’s target is $2.26, which is also in line with the larger than (1.618) target of the primary wave down from $2.743. The connection to $2.26 is made through $2.42 and $2.34. The $2.34 objective … Continue reading Natural Gas Price Forecast – September 2, 2020
Crude Oil Price Forecast – September 1, 2020
WTI Crude Oil Short-Term Price Forecast The outlook for WTI crude oil continues to lean negative. WTI settled below the 200-day moving average for the fourth straight day after another early test of resistance. This has formed long upper shadows on the daily candlesticks for the last three days, all of which form shooting star. … Continue reading Crude Oil Price Forecast – September 1, 2020
Gold Price Forecast – August 27, 2020
Gold Near-Term Outlook The near-term outlook for December gold futures leans bearish. Gold initially rose to $1980 as expected today. However, this level, which is in line with the 62 percent retracement of the decline from $2024.6 and the 20-day moving average, held on a closing basis. Also, the subsequent move down from today’s $1987.0 … Continue reading Gold Price Forecast – August 27, 2020
