Market Forecasts and Insights
Kase Market Commentary
Samples of Kase’s energy and metals price forecasts, daily updates, market commentary, and educational perspectives on technical analysis and trading — published by Dean Rogers, CMT.
Natural Gas Forecast: May Stalls at Key Resistance
Forecasts for warmer than normal temperatures next week in the Midwest and mid-Atlantic spurred natural gas higher on Tuesday. For several weeks the May natural gas contract oscillated in a range between approximately $1.86 and $2.04. The range was finally broken when prices settled above $2.04. That said, the move up may have been too … Continue reading Natural Gas Forecast: May Stalls at Key Resistance
Crude Oil Forecast: WTI Fills Gap, Positioned to Grind Lower
The failure to reach an agreement to freeze crude oil output levels for key producers caused prices to slide in early trading Monday. June WTI gapped down from Friday’s $41.19 low and met crucial support at $39.0. However, the labor strike in Kuwait, which has decreased the nation’s output by nearly 60 percent for the … Continue reading Crude Oil Forecast: WTI Fills Gap, Positioned to Grind Lower
Natural Gas Forecast: Prices on Verge of Breaking Higher Out of Trading Range
For the past few weeks, May natural gas has oscillated in a range between approximately $1.86 and $2.06. The market looks as though it wants to break higher after closing over Monday’s gap down from $1.99 on Tuesday and sustaining a close above $2.00 on Wednesday. May natural gas is working its way toward the … Continue reading Natural Gas Forecast: Prices on Verge of Breaking Higher Out of Trading Range
Crude Oil Forecast: WTI Setup for Potential Five-Wave Trend
The highly anticipated and headline grabbing April 17 meeting between OPEC and non-OPEC nations has set the stage for crude oil’s rally. However, some traders and pundits still think the world is awash in oil and an out-put freeze has already been priced in. They anticipate an agreement to freeze production—if reached—would have little near-term … Continue reading Crude Oil Forecast: WTI Setup for Potential Five-Wave Trend
Natural Gas Forecast: Rally Fails to Close Over $2.03
Last week May natural gas formed a double top at $2.03. The confirmation point for the pattern was $1.837, the swing low between the two peaks of $2.032 and $2.028. May rose above the $2.03 double top, but failed to close over this crucial level on both Monday and Tuesday. This was negative and set … Continue reading Natural Gas Forecast: Rally Fails to Close Over $2.03
Crude Oil Forecast: WTI Poised to Challenge Support at $35.3
Saudi Arabia once again made clear they will only freeze output at current levels if other nations, including Iran, also do so. Iran has balked at the idea and stated objections on numerous occasions. Reports indicate this came as a shock to bullish oil traders, some of whom had thought the Saudi’s softened their tone … Continue reading Crude Oil Forecast: WTI Poised to Challenge Support at $35.3
Natural Gas Forecast: May Stalls at Key Resistance, For Now
By Dean Rogers Natural gas entered into the injection season a bit earlier than normal, and as a result, prices have settled into a state of flux. It is too soon to say that a long-term bottom has been made, especially for the May contract. However, over the past few days the charts have shown … Continue reading Natural Gas Forecast: May Stalls at Key Resistance, For Now
Gasoline Forecast: May RBOB Futures Forming Fifth Wave
Since early February, RBOB gasoline futures have been trending higher, forming a five-wave pattern. We follow a few simple rules when breaking down a five-wave move. Generally, each of the impulse waves (I, III, V) have to be proportional to one another, each of the impulse waves should break down into five-sub-waves, and most importantly, … Continue reading Gasoline Forecast: May RBOB Futures Forming Fifth Wave
Natural Gas Forecast: Pullback Will Test Major Support at $1.74
By Dean Rogers It looks as though the natural gas rally has stalled and that prices will most likely settle into a trading range. The move up had been resilient for the past few weeks, reaching a crucial target at $1.91 and nearly extending to key resistance just above $2.00. However, the lack of a … Continue reading Natural Gas Forecast: Pullback Will Test Major Support at $1.74
Crude Oil Forecast: May WTI Poised to Test $43.1 Decision Point
WTI’s move up has been resilient for the past few weeks. The waves up from $29.85 may be interpreted as either a five-wave trend that is still forming Wave III or a three wave correction that has nearly completed Wave C. Technical factors indicate May WTI is approaching a decision point at $43.1. In either … Continue reading Crude Oil Forecast: May WTI Poised to Test $43.1 Decision Point
