Crude Oil Short-Term Forecast – February 13, 2018
Outlook for WTI March WTI crude oil’s formation of a second daily star (in this case a hammer), confirmed daily KCDpeak, oversold Stochastic, and failure to break the $58.07 swing low are all factors that indicate the upward correction from $58.07 still has a reasonable chance of extending before the decline continues. However, unless WTI … Continue reading Crude Oil Short-Term Forecast – February 13, 2018
Short-Term Natural Gas Forecast – February 7, 2018
Outlook for Natural Gas March natural gas fell below the $2.693 swing low, which nullifies the wave $2.532 – 3.035 – 2.693 and any potential that the move up from $2.532 would extend as a five-wave pattern. Today’s decline also wiped out the yesterday’s bullish hammer and intra-day bullish divergences. Therefore, as of this afternoon, … Continue reading Short-Term Natural Gas Forecast – February 7, 2018
Crude Oil Short-Term Forecast – February 7, 2018
Outlook for WTI WTI crude oil’s decline wiped out yesterday’s bullish morning star setup and fulfilled the $61.5 larger than (1.618) target of the wave $66.66 – 63.67 – 66.3. If the move down from $66.66 proves to be a three-wave correction the $61.25 swing low should hold. However, as of this afternoon, there is … Continue reading Crude Oil Short-Term Forecast – February 7, 2018
Short-Term Natural Gas Forecast – January 31, 2018
The conviction of today’s natural gas price decline reflects the market’s disappointment with external factors. The confirmation of yesterday’s shooting star and bearish divergences do not indicate the move up is over, but significantly dampen the odds for March to rise to the levels that February achieved before its expiration. The near-term outlook has shifted … Continue reading Short-Term Natural Gas Forecast – January 31, 2018
Short-Term Natural Gas Forecast – January 23, 2018
February natural gas finally broke through $3.32, the upper end of the confluence range around $3.29 +/- $0.03 discussed for the past few weeks. Although the day officially settled at $3.444, prices surged higher after the settlement to $3.628 and fulfilled the larger than (1.618) target of the wave $2.562 – 3.097 – 2.746 and … Continue reading Short-Term Natural Gas Forecast – January 23, 2018
Short-Term Energy Forecasts – January 17, 2018
WTI Crude Oil Forecast March WTI crude oil confirmed bearish daily KasePO and KaseCD weak divergences. A weak divergence is one that forms when the confirming bar closes in the opposite direction of the signal, in this case, up. Weak divergences generally do not follow through as well as normal divergences but do warrant caution. … Continue reading Short-Term Energy Forecasts – January 17, 2018
Short-Term Energy Price Forecasts – November 21, 2017
WTI Crude Oil Forecast January WTI crude oil settled below $56.94, the 62 percent retracement of the decline from $58.14 to $55.0 and the smaller than (0.618) projection of the wave $55.0 – 56.93 – 55.75. However, this afternoon’s late move above $56.94 indicates the move up should challenge the equal to (1.00) projection at … Continue reading Short-Term Energy Price Forecasts – November 21, 2017
Natural Gas Short-Term Forecast – November 8, 2017
Monday’s gap up from $2.998 is probably a bullish breakaway gap for December natural gas. This is a reversal pattern that takes place after a prolonged down move or consolidation period. Breakaway gaps are also a good sign that a new trend has possibly begun. This type of gap is not usually filled like common … Continue reading Natural Gas Short-Term Forecast – November 8, 2017
WTI Crude Oil Short-Term Forecast – November 7, 2017
The long-term outlook for WTI crude oil remains bullish and any move down will most likely be corrective. However, the move up has reached an area of significant resistance between $57.2 and $60.0 for the December contract. Many of the largest waves up from this summer’s $43.08 swing low project to targets within this range. … Continue reading WTI Crude Oil Short-Term Forecast – November 7, 2017
Natural Gas Short-Term Forecast – November 1, 2017
December natural gas fulfilled the equal to (1.00) target of the wave $3.353 – 3.013 – 3.198 when it fell to $2.847 today. Aside from a few brief declines to targets around $2.75, support around $2.86 has been troublesome on the continuation chart since late June. Technical factors indicate this may prove to be strong … Continue reading Natural Gas Short-Term Forecast – November 1, 2017
