Crude Oil Price Forecast – March 12, 2024
WTI crude oil has held major support at $77.3 on a closing basis for the past couple of days. Odds still lean in favor of closing below $77.3, which will open the way for $76.8 and likely $76.2 in the coming days.
Gold Price Forecast – March 7, 2024
Gold is due for a correction and has formed a potential double top around $2172. However, there are no confirmed bearish patterns or signals that call for a reversal. Near-term odds remain bullish and a test of $2190 is expected within the next day or so.
Natural Gas Price Forecast – March 6, 2024
Natural gas is struggling to close above a key target at $1.96. The outlook remains bullish though and closing above $1.96 will open the way for another test of $2.00 and higher.
Nevertheless, today’s pullback warns that a test of $1.90 and possibly $1.85 might take place before the move up extends.
Crude Oil Price Forecast – March 5, 2024
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 – March 5, 2024
Crude Oil Price Forecast – February 13, 2024
Today’s rally has positioned WTI crude oil to challenge $79.2 and possibly $79.7 tomorrow. Settling above $79.7 will open the way for $80.7 and higher in the coming days.
The late pullback from $78.47 warns that a test of $77.0 might take place first. This level is expected to hold. Key near-term support at $75.8.
Crude Oil Price Forecast – August 10, 2021
Today’s rally has positioned WTI crude oil to challenge $69.9 tomorrow. This should be strong resistance, but a close above $69.9 will call for a test of key resistance and a bullish decision point at $70.8.
Natural Gas Price Forecast – August 4, 2021
Natural gas is poised to challenge a major objective at $4.24. This is a potential stalling point, but once met, an eventual close above $4.24 is anticipated. Such a move will open the way for a rise toward $4.51 during the subsequent weeks.
Crude Oil Price Forecast – August 3, 2021
WTI’s daily hammer suggest the move down will likely prove to be another short-lived correction. Closing above $72.5 will complete the pattern and call for a test of the hammer’s $73.9 confirmation point.
Gold Price Forecast – July 29, 2021
Gold settled above the 200-day moving average and is now poised to reach at least $1842 and possibly $1855 during the next few days. Support at $1819 is expected to hold and $1805 is key support for the near-term outlook.
Natural Gas Price Forecast – July 28, 2021
Natural gas is poised to decline to at least $3.91 and lower during the next few days. The barrier to a more bearish outlook is $3.82. Resistance at $4.04 is expected to hold and $4.08 is key resistance.
