Natural Gas Price Forecast – August 26, 2020
Natural Gas Near-Term Outlook Tomorrow’s outlook for October natural gas leans negative after confirming an intra-day double top that formed between the $2.658 and $2.654 swing highs. The double top was confirmed by today’s close below the $2.564 swing low and the pattern’s target is $2.47. Double tops like this one meet their target 64 … Continue reading Natural Gas Price Forecast – August 26, 2020
Crude Oil Price Forecast – August 25, 2020
WTI Crude Oil Short-Term Price Forecast WTI crude oil rose toward the upper end of the range it has been trading in for the past several weeks. The crucial $43.4 target discussed in this week’s Commentary and yesterday’s update was challenged. This level held on a closing basis. However, WTI’s $43.35 settle was four ticks … Continue reading Crude Oil Price Forecast – August 25, 2020
Gold Price Forecast – August 20, 2020
Gold Near-Term Outlook December gold’s move up today is most likely corrective of yesterday’s decline. Near-term odds continue to favor a larger move down because of the daily and weekly reversal patterns and signals that were confirmed during the pullback from the $2089.2 swing high. A move below $1942 early tomorrow will increase odds for … Continue reading Gold Price Forecast – August 20, 2020
Natural Gas Price Forecast – August 19, 2020
Natural Gas Near-Term Outlook The outlook for natural gas remains bullish because September’s move up from $1.583 is unfolding as a textbook five-wave trend the targets $2.75. The more recent rise from $2.085 forms a likely Wave 1/V that has broken down into five sub-waves that stalled at $2.465 yesterday. The decline from $2.465 is … Continue reading Natural Gas Price Forecast – August 19, 2020
Crude Oil Price Forecast – August 18, 2020
WTI Crude Oil Short-Term Price Forecast WTI crude oil continues to trade in a choppy range that is bound within the upper half of the Bollinger Bands. A Bollinger squeeze trade setup in place, and because prices are trading above the 20-day moving average there is a good chance for a break higher out of … Continue reading Crude Oil Price Forecast – August 18, 2020
Gold Price Forecast – August 13, 2020
Gold Near-Term Outlook Gold was due for a significant test of support, the beginning of which took place on Tuesday. The move down from $2089.2 retraced just over 50 percent of the move up from $1690.1. While this aggressive move down was bearish for the near-term outlook, the move up during the past two days … Continue reading Gold Price Forecast – August 13, 2020
Natural Gas Price Forecast – August 12, 2020
Natural Gas Near-Term Outlook The overall outlook for natural gas is bullish because the move up from $1.583 looks to be forming a five-wave trend. Wave I fulfilled its $2.30 larger than (1.618) target when prices rose to $2.284. This was likely the top of Wave III and the subsequent move down is forming Wave … Continue reading Natural Gas Price Forecast – August 12, 2020
Crude Oil Price Forecast – August 11, 2020
WTI Short-Term Price Forecast The near-term outlook for WTI crude oil leans bearish. Today’s initial move up stalled at the 78 percent retracement of the decline from $43.52. The subsequent move down formed another long upper shadow on the daily candlestick chart. The body of today’s candlestick is too big to be a shooting star, … Continue reading Crude Oil Price Forecast – August 11, 2020
Gold Price Forecast – August 6, 2020
December gold finally settled above $2050 today. This is bullish for the near-term and clears the way for at least $2091 and possibly $2130. Support at $2021 is expected to hold.
Natural Gas Price Forecast – August 5, 2020
Natural gas adopted a bullish outlook after breaking higher out of the months-long trading range. NG should reach $2.30 before a major test of support takes place. $2.13 is expected to hold and $2.03 is key support.
