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
Crude Oil Price Forecast – May 26, 2020
WTI Crude Oil Price Forecast The outlook for WTI crude oil is bullish and the move up is poised to reach $35.1. This is a crucial objective because it is the equal to (1.00) target of the primary wave up from $17.27. It is also the equal to target for today’s small intra-day wave up … Continue reading Crude Oil Price Forecast – May 26, 2020
Gold and Silver Price Forecast – May 21, 2020
Gold Price Forecast Gold fell below the upper trend line of the bullish coil that prices broke out of on May 14. The pullback from $1755.8 is most likely corrective but is poised to extend to $1704 ahead of the holiday weekend. This is in line with the equal to (1.00) target of the wave … Continue reading Gold and Silver Price Forecast – May 21, 2020
Natural Gas Price Forecast – May 20, 2020
During the past few days June natural gas has risen to challenge the lower trend line of the bearish flag pattern that prices broke lower out of on May 12. This is common after breaking lower out of this type of pattern. The pullback is most likely corrective and briefly overcame the lower trend line … Continue reading Natural Gas Price Forecast – May 20, 2020
