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Crude Oil Short-Term Forecast – March 27, 2018

Posted on March 27, 2018 by Dean Rogers, CMT in Oil Price Forecast

WTI crude oil stalled near crucial resistance at $66.4 Monday and confirmed an intra-day bearish KaseCD divergence. The subsequent pullback completed a bearish Harami line and star today by closing below Friday’s $65.08 midpoint. The pullback is most likely corrective but should test the Harami line and star’s confirmation point near $64.2 tomorrow. A close … Continue reading Crude Oil Short-Term Forecast – March 27, 2018

Short-Term Natural Gas Forecast – March 21, 2018

Posted on March 21, 2018 by Dean Rogers, CMT in Natural Gas Price Forecast

Last week, April natural gas broke below the lower trend line of the upward sloping channel it had been oscillating within since February 12. Prices also settled below important support at $2.66. The move down hesitated yesterday, but resistance at $2.71 held this morning and prices fell below the $2.64 swing low today. All of … Continue reading Short-Term Natural Gas Forecast – March 21, 2018

Crude Oil Short-Term Forecast – March 20, 2018

Posted on March 20, 2018 by Dean Rogers, CMT in Oil Price Forecast

May WTI crude oil fulfilled a highly confluent and extremely important target at $64.0 today when price rose to $63.98. The move up comes after prices broke higher out of the bullish descending flat wedge Friday and then tested and held the pattern’s upper trend line Monday. As discussed in our weekly forecast, $64.0 is … Continue reading Crude Oil Short-Term Forecast – March 20, 2018

Short-Term Natural Gas Forecast – March 14, 2018

Posted on March 14, 2018 by Dean Rogers, CMT in Natural Gas Price Forecast

The near-term outlook for natural gas became more negative today and prices are poised to test at least $2.70 and possibly $2.66 tomorrow. The small move up at the end of the day indicates resistance will probably be challenged first, but $2.76 and no higher than $2.79 is expected to hold. The confirmation of a … Continue reading Short-Term Natural Gas Forecast – March 14, 2018

Crude Oil Short-Term Forecast – March 13, 2018

Posted on March 13, 2018 by Dean Rogers, CMT in Oil Price Forecast

The WTI crude oil forecast remains slightly negative given today’s decline to $60.27 after testing and holding resistance around $62.0. The move down is expected to continue, but a small double bottom around $60.27 indicates prices will probably challenge $61.4 first. Resistance is expected to hold. Today’s decline to $60.27 fulfilled important projections for recent … Continue reading Crude Oil Short-Term Forecast – March 13, 2018

Short-Term Natural Gas Forecast – March 7, 2018

Posted on March 07, 2018 by Dean Rogers, CMT in Natural Gas Price Forecast

Since February 12, April natural gas had risen in a choppy upward sloping range that formed a bearish flag. However, prices broke higher out of the flag today and settled above the pattern’s upper trend line. The flag’s failure to break lower is bullish for the near-term and calls for a larger upward correction before … Continue reading Short-Term Natural Gas Forecast – March 7, 2018

Crude Oil Short-Term Forecast – March 6, 2018

Posted on March 06, 2018 by Dean Rogers, CMT in Oil Price Forecast

The long-term outlook remains slightly negative for WTI crude oil, but the near-term outlook seems to switch from positive to negative on a day-to-day basis. This generally reflects a market that is unsure of itself and could indicate a trading range is forming. For now, though, given today’s failure to settle above the equal to … Continue reading Crude Oil Short-Term Forecast – March 6, 2018

Short-Term Natural Gas Forecast – February 28, 2018

Posted on February 28, 2018 by Dean Rogers, CMT in Natural Gas Price Forecast

The outlook for April natural gas remains negative. Prices are still oscillating within the upward sloping bearish flag, but today’s failure to test the top of the flag’s range at $2.73 indicates the formation should attempt to break lower tomorrow. The flag’s lower trend line is nominally $2.64, but $2.63 is key because it is … Continue reading Short-Term Natural Gas Forecast – February 28, 2018

Crude Oil Short-Term Forecast – February 27, 2018

Posted on February 27, 2018 by Dean Rogers, CMT in Oil Price Forecast

WTI crude oil’s settle below Friday’s $63.1 midpoint and the daily bearish engulfing line is negative for tomorrow’s outlook. There is immediate support at Friday’s $62.6 open, but the small wave formation down from $64.24 calls for at least $62.3 and likely $61.9. The latter is most crucial for the near-term because it is the … Continue reading Crude Oil Short-Term Forecast – February 27, 2018

Short-Term Natural Gas Forecast – February 21, 2018

Posted on February 21, 2018 by Dean Rogers, CMT in Natural Gas Price Forecast

March natural gas finally settled above February’s 9’s $2.64 midpoint. The move up is most likely corrective of the decline from $3.259 and will continue to be a grind. However, natural gas should now challenge at least $2.71 and possibly higher before the decline ultimately continues. The wave $2.53 – 2.662 – 2.565 met its … Continue reading Short-Term Natural Gas Forecast – February 21, 2018

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Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.