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Crude Oil Price Forecast – June 4, 2024

Posted on June 04, 2024 by Dean Rogers, CMT in Oil Price Forecast

WTI crude oil has sustained a close below a bearish decision point at $75.8 for the past two days. The move down is due for a test of resistance, but any move up will likely be a correction. Technical factors call for continued decline; the next major objective is $70.4.

Gold Price Forecast – May 23, 2024

Posted on May 23, 2024 by Dean Rogers, CMT in Gold Price Forecast

Gold’s pullback from $2454.2 has confirmed several daily bearish reversal signals and has formed weekly bearish patterns and signals that may be confirmed on Friday. These bearish factors imply that a significant test of support will likely unfold in the coming days.

Crude Oil Price Forecast – May 21, 2024

Posted on May 21, 2024 by Dean Rogers, CMT in Oil Price Forecast

WTI crude oil held major resistance at $80.1 Monday and then fell to test confluent support around $77.7 today. This is tight call for the near term and a test of $79.4 will probably take place early tomorrow. Even so, $79.4 should hold as the near-term outlook continues to lean bearish.