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
Crude Oil Price Forecast – May 19, 2020
WTI Crude Oil Price Forecast The long-term outlook for WTI crude oil is bullish, and based on technical factors, the move up is still poised to challenge the next major objective at $35.1. However, several daily momentum oscillators are overbought, and today’s evening star setup suggests the move up is nearing exhaustion. The challenge, however, … Continue reading Crude Oil Price Forecast – May 19, 2020
Gold Price Forecast – May 14, 2020
This is a brief analysis for the next day or so. Our weekly Metals Commentary and daily updates are much more detailed and thorough energy price forecasts that cover key COMEX precious metals futures contracts and LME Non-Ferrous (Base) metals, spot gold, the gold/silver ration, and gold ETFs. If you are interested in learning more, … Continue reading Gold Price Forecast – May 14, 2020
Natural Gas Price Forecast – May 13, 2020
June natural gas broke support at $1.66 and fell to a new contract low of $1.595. Based on the waves and sub-waves down from $2.162 this is a highly confluent objective and a potential stalling point. Nonetheless, closing below $1.59 will call for $1.53, the last target protecting the continuation chart’s $1.519 swing low. Settling … Continue reading Natural Gas Price Forecast – May 13, 2020
Crude Oil Price Forecast – May 12, 2020
WTI Crude Oil Price Forecast WTI rallied today but stalled short of the crucial $26.3 objective. The long-term outlook for WTI is bullish, but the move up is still due a larger test of support before rising much higher. In addition, with product prices sliding and a negative near-term outlook for Brent, WTI will be … Continue reading Crude Oil Price Forecast – May 12, 2020
Gold Price Forecast – May 7, 2020
Gold’s formation of a bullish engulfing line today strongly suggests that the primary wave down from $1788.8 may fail to meet its $1642 equal to (1.00) target as previously expected. Instead, prices are poised to rise and challenge at least $1752, which then connects to $1764. Overcoming $1764 would call for a move above the … Continue reading Gold Price Forecast – May 7, 2020
Natural Gas Price Forecast – May 6, 2020
Natural gas could not overcome Tuesday’s $2.162 swing high and make the push for key resistance and the gateway for a much more bullish outlook at $2.21. Instead, prices fell and took out the 38 percent retracement of the move up from $1.649. This is bearish for the near-term but doe not mean that the … Continue reading Natural Gas Price Forecast – May 6, 2020
Crude Oil Price Forecast – May 5, 2020
WTI Crude Oil Price Forecast WTI crude oil has adopted a firm bullish outlook for the near-term. Today’s close above $21.8, the equal to (1.00) target of the primary wave up from $6.50), and $24.5, the smaller than (0.618) target of the sub-wave up from $10.07, opens the way for $26.5 and possibly $29.3 during … Continue reading Crude Oil Price Forecast – May 5, 2020

