Gold Price Forecast – February 20, 2025
Gold is struggling to close above $2965, the key breakout level from its recent range ($2887–$2965). Prices briefly hit $2973.4 before pulling back but remain near resistance, with another test of $2965 expected. A close above targets $2980 and $2997. However, indecisive trading and an intra-day head and shoulders pattern warn that another test of support might take place first. Closing below $2943 will confirm the head and shoulders and lead to tests of $2930 and key support at $2909. Settling below $2909 will put $2887 at risk.
Natural Gas Price Forecast – February 19, 2025
Natural gas surged past $4.14 and is now targeting $4.36, though a correction is due as the rally’s pace is unsustainable. While $4.36 is a key level, this move may overshoot resistance, with $4.43, $4.48, and $4.59 as the next targets. The RSI is overbought, but no bearish signals have confirmed a stall yet. If a pullback occurs, $4.15 should hold, with key support at $4.01.
Crude Oil Price Forecast – February 18, 2025
April WTI crude held key support at $70.2, forming a triple (or arguably quadruple) bottom. A bullish engulfing line and a close above key moving averages suggest a larger test of resistance ahead. A break above $72.1 targets $72.8 and the $73.3 confirmation point for a bullish breakout. Conversely, $70.2 remains the key support—closing below it would negate the triple bottom and open the way for $69.5 and lower.
Natural Gas Price Forecast – February 12, 2025
Natural gas tested key resistance at $3.58. Closing above this will confirm a bullish shift in sentiment. Such a move would target $3.61, $3.64, and $3.74 in the coming days. However, there is potential for a small double top at $3.58 that would be confirmed by a close below $3.46.
Crude Oil Price Forecast – February 11, 2025
WTI Crude Oil Technical Analysis and Short-Term Forecast This is a brief analysis for the next day or so. Our weekly Crude Oil Forecast and daily updates are much more detailed and thorough energy price forecasts that cover WTI, Brent, RBOB Gasoline, Diesel, and spreads. If you are interested in learning more, please sign up … Continue reading Crude Oil Price Forecast – February 11, 2025
Gold Price Forecast – February 6, 2025
Gold’s long-term outlook remains bullish after settling above an important wave projection at $2867 that makes a connection to $3041. However, today’s decline confirmed bearish signals, including a MACD divergence and an overbought RSI. A close below $2854 could trigger a correction to $2840, with deeper support at $2814 and $2784. That said, this is a tight call for tomorrow. If gold overcomes $2894 look for tests of $2914 and possibly another potential stalling point at $2931.
Natural Gas Price Forecast – February 5, 2025
March natural gas held support at $3.16 and rallied to test $3.38, signaling a bullish near-term outlook. A break above $3.38 will target $3.42, with a move past $3.48 opening the door to $3.59. However, a correction of the move up from $3.161 is due soon. Watch for support at $3.29, with $3.23 as a key level to hold. Settling below $3.23 would significantly weaken the bullish outlook.
Crude Oil Price Forecast – February 4, 2025
WTI crude oil tested and important target at $70.6 before bouncing to $73.35, where resistance held. A long-legged doji signals uncertainty, but the near-term outlook remains bearish. A break below $71.6 could lead to $70.6 and $69.6, a longer-term bearish decision point. However, a small bullish flag may be forming. Holding above $72.1 and closing above $73.5 would confirm a breakout toward $74.1 and $75.2. Overcoming $75.2 would shift the odds in favor of testing $76.1.
Gold Price Forecast – January 30, 2025
Gold surged past $2795 and hit the $2825 target, briefly overcoming $2826.3 with a high of $2829.5. While a double top is possible, the wave structure suggests further upside toward $2835 and the key $2849 target. No strong bearish signals are present, but after today’s rally, a test of support could come first. The $2798 midpoint is expected to hold, with key support at $2773. A close below $2773 before another move higher would signal a double top and a deeper pullback.
Natural Gas Price Forecast – January 29, 2025
March natural gas held support at the 200-day SMA ($3.07) and tested resistance at $3.19 but failed to close above it, keeping the near-term outlook bearish. A break below $3.07 could lead to $3.00 and potentially $2.95, signaling a continued bearish reversal. However, an intra-day wave suggests a possible test of $3.21, with a break higher targeting $3.26 and key near-term resistance at $3.34.
