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Gasoline Forecast: Futures Confirm Negative Technical Patterns

Posted on November 30, 2015 by Dean Rogers, CMT in Oil Price Forecast

By Dean Rogers For the past few weeks gasoline futures rose in a dramatic fashion and lent some support to underlying WTI and Brent futures prices. However, a few bearish technical factors indicate the move up is probably complete and that a major test of support is now underway. January gasoline futures stalled at the … Continue reading Gasoline Forecast: Futures Confirm Negative Technical Patterns

Natural Gas Forecast: January Settling into a Familiar Trading Range

Posted on November 25, 2015 by Dean Rogers, CMT in Natural Gas Price Forecast

By Dean Rogers Natural gas’s upward correction has been held at bay as the market seeks frigid temperatures to support a move higher. January is settling into the familiar range between approximately $2.26 and $2.39 that December oscillated in before it finally broke lower. This is likely where prices will remain for the rest of … Continue reading Natural Gas Forecast: January Settling into a Familiar Trading Range

Crude Oil Forecast: WTI Meets Major Support at $40.41

Posted on November 23, 2015 by Dean Rogers, CMT in Oil Price Forecast

By Dean Rogers January WTI futures met crucial support at $40.41 early Monday. This was the 1.00 projection for the wave $52.02 – 43.52 – 49.23. The subsequent move up was initially promising for bulls, but stalled at $42.75 before it could overcome $43.2 resistance. It is a tight call tomorrow, but we expect a … Continue reading Crude Oil Forecast: WTI Meets Major Support at $40.41

Crude Oil Forecast: WTI’s Technical Factors Call for $43.2

Posted on November 09, 2015 by Dean Rogers, CMT in Oil Price Forecast

By Dean Rogers WTI stalled near $48.0 as we expected in our weekly Crude Oil Commentary and the sustained close below $44.7 calls for a test of key support at $43.2. This is a confluence area that is near the 0.618 projection of the wave $51.42 – 42.58 – 48.36. A close below $43.2 would … Continue reading Crude Oil Forecast: WTI’s Technical Factors Call for $43.2

Natural Gas Forecast: Correction Favors $2.38

Posted on November 04, 2015 by Dean Rogers, CMT in Natural Gas Price Forecast

By Dean Rogers Natural gas cautiously rose to $2.317 to fulfill the smaller than (0.618) projection for the wave $2.188 – 2.336 – 2.231. Typically, a move to $2.38 would now be expected because waves that meet the 0.618 projection normally extend to at least the equal to (1.00) projection. The pullback to $2.255 is … Continue reading Natural Gas Forecast: Correction Favors $2.38

Gasoline Futures Oscillating in Range

Posted on November 02, 2015 by Dean Rogers, CMT in Oil Price Forecast

By Dean Rogers Last week several top refiners reported a jump in their third quarter earnings compared to a year ago. Attractive crack spreads and refining margins due to lower oil prices and healthy demand for gasoline have helped refiners pump in profits. In addition, last week’s rise in oil prices, which was partially attributed … Continue reading Gasoline Futures Oscillating in Range

Natural Gas Forecast: December’s Wave Structure Calls for $2.11

Posted on October 28, 2015 by Dean Rogers, CMT in Natural Gas Price Forecast

By Dean Rogers As discussed last week, everyone is looking for the natural gas bottom. I am sure no one wants me to step back onto my “picking bottoms is a dangerous game” soap box, so I will just reiterate that the best anyone can do is identify potential turning points and look to time … Continue reading Natural Gas Forecast: December’s Wave Structure Calls for $2.11