Natural Gas Price Forecast – April 10, 2024
The near-term outlook for natural gas leans bullish and will likely test an important target at $1.97 upon a close above $1.93 within the next day or so. However, the move up is showing signs that it may fail. Taking out $1.85 will call for a test of key support at $1.78.
Crude Oil Price Forecast – April 9, 2024
WTI’s corrective move down from $87.63 is poised to extend to at least $84.7 and likely $84.1. Settling below $84.1 will call for an extended correction to challenge $83.0 and possibly $82.3. Settling above $86.6 resistance will significantly dampen the odds for such a move though.
Gold Price Forecast – March 27, 2024
Trading has been erratic for gold during the past week. However, today’s rise has positioned gold to test $2203. Settling above this will imply that the correction is complete and call for a push to $2218 and likely $2233 in the coming days.
Natural Gas Price Forecast – March 27, 2024
May natural gas fell to a new contract low and is now poised to test at least $1.69 and likely a key objective at $1.66. Settling below $1.66 might be a challenge but would call for $1.63, $1.60, and an eventual test of $1.51.
Crude Oil Price Forecast – March 26, 2024
WTI’s pullback from $83.12 is likely a correction. Even so, weekly and daily bearish technical patterns and signals suggest a deeper test of support should take place. Closing below $80.7 will clear the way for such a move in the coming days.
Gold Price Forecast – March 21, 2024
The longer-term outlook for gold is bullish. However, today’s bearish long-legged doji reflects near-term uncertainty and warns that a test of at least $2175 will likely take place before the uptrend extends.
Natural Gas Price Forecast – March 20, 2024
Natural gas is poised to test the bottom of its recent trading range at $1.64 after testing support at $1.69 today. This is a tight call but closing below $1.64 will call for the April contract to fall to a new low of at least $1.59.
Crude Oil Price Forecast – March 20, 2024
WTI crude oil has been due for a correction and today’s decline has put near-term odds in favor of a deeper test of support. Tomorrow, look for a test of $80.6, a close below which will clear the way for $80.1 and possibly $79.0 in the coming days.
Gold Price Forecast – March 14, 2024
Gold’s pullback from $2203 is likely a correction and may form a bullish flat descending triangle. However, the wave down from $2203 favors a test of $2139 before the move up extends. Therefore, near-term odds lean in favor of a deeper test of support before the uptrend extends.
Natural Gas Price Forecast – March 13, 2024
April natural gas is poised to fall to a new contract low of at least $1.59. Settling below this will open the way for $1.55 and then a highly confluent and important target at $1.49.
