Natural Gas Price Forecast – June 17, 2020
Natural Gas Price Forecast The outlook for natural gas is bearish after settling below $1.69 and wiping out the bullish hammer that formed a week ago on June 10. The move down also broke the lower trend line on the continuation chart connecting the $1.519 and $1.595 swing lows. Today’s pullback tested and held this … Continue reading Natural Gas Price Forecast – June 17, 2020
Crude Oil Price Forecast – June 16, 2020
WTI Crude Oil Price Forecast The long-term outlook for WTI crude oil is bullish. The move up is poised to eventually reach $41.8 where it will attempt to fill the July contract’s March 7 gap down from $41.88. However, WTI has desperately been due for a significant correction. Based on this afternoon’s price action, there … Continue reading Crude Oil Price Forecast – June 16, 2020
Gold Price Forecast – June 11, 2020
Gold Price Forecast Gold is trading in a range between nominally $1670 and $1790. This is bullish for the long-term outlook as the range forms a rectangle top, a pattern that breaks higher around 63 percent of the time. The pattern also reflects the significance of $1665 support and $1790 resistance and sets gold up … Continue reading Gold Price Forecast – June 11, 2020
Natural Gas Price Forecast – June 10, 2020
Natural gas fell as called for and finally challenged the crucial $1.69 objective. However, the move down stalled just below $1.69 at $1.674 and then quickly rallied. This formed a spike type bottom on the intra-day chart and a textbook daily hammer. The brevity of the move down felt as though the market needed to … Continue reading Natural Gas Price Forecast – June 10, 2020
Crude Oil Price Forecast – June 9, 2020
WTI Crude Oil Price Forecast The long-term outlook for crude oil remains bullish. However, the move up is due for a significant test of support before rising much higher. During the past couple of days, a few bearish signals have been confirmed that suggest a larger test of support may be underway. Today’s initial move … Continue reading Crude Oil Price Forecast – June 9, 2020
Gold and Silver Price Forecast – June 4, 2020
Gold Price Forecast The long-term outlook for gold is bullish and $1820 is the next major objective. However, gold is stuck in a trading range and the lower trend line of the range was broken yesterday. Also, the recent decline below the smaller than (0.618) targets of the primary waves down from $1789.0 and $1787.5 … Continue reading Gold and Silver Price Forecast – June 4, 2020
Natural Gas Price Forecast – June 3, 2020
On the continuation chart, natural gas has been stuck in a wide trading range since mid-January. This range will likely persist for at least another few weeks. However, the July natural gas chart is in a downtrend that favors a decline to $1.70 during the next couple of days. This will fill the $1.722 June-July … Continue reading Natural Gas Price Forecast – June 3, 2020
Crude Oil Price Forecast – June 2, 2020
WTI Crude Oil Price Forecast The outlook for WTI crude oil is bullish. There are no reversal patterns or confirmed signals that call for the move up to stall. Therefore, traders will likely continue to buy the dips until the market proves otherwise. The sustained close above $35.1 for the third straight day is bullish … Continue reading Crude Oil Price Forecast – June 2, 2020
Gold and Silver Price Forecast – May 28, 2020
Gold Price Forecast The long-term outlook for gold remains bullish. However, the near-term outlook calls for a larger test of support before the move up continues. During the last few days, gold prices have fallen back into the range of a bullish coil that prices had broken higher out of on May 14. Yesterday, gold … Continue reading Gold and Silver Price Forecast – May 28, 2020
Natural Gas Price Forecast – May 27, 2020
July natural gas, which is now the prompt month futures contract, held $1.96 resistance and is poised to challenge at least $1.83 and likely $1.78 during the next few days. The $1.78 target is the lowest the first wave down from $2.027 projects and the equal to (1.00) target of the primary wave down from … Continue reading Natural Gas Price Forecast – May 27, 2020
