• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

WTI Crude Oil And Natural Gas Forecast – Monday, April 16

By Kurt Osterberg · On April 16, 2018

WTI Crude Oil

The WTI Crude Oil market continues to try to go higher during the trading session on Friday, but as you can see struggled a bit. The $68 level should continue to be an area of resistance, but I think if we can break above that level, I think that the market should then go to the $70 level. I believe that short-term pullbacks will be a buying opportunity, as the uptrend line has kept this market intact to the upside. I think that if we were to break down below the uptrend line, then of course things change. I believe that the market should have plenty of support at the $66 level, and if the US dollar can continue to struggle, that could also send this market higher. With tensions in the Middle East, it’s likely that oil will continue to have a bit of a bit underneath it.

Natural Gas

After a downgrade buy, the EIA, as far as production is concerned for 2018, natural gas price went up. We also had a bullish inventory number this week, so that has provided a little bit of a boost. However, I think there’s plenty of resistance above, especially near the $2.85 level, and of course the $3.80 level after that. I’m looking for signs of exhaustion on a daily candle that I can start selling, with the $2.60 level being a target, and an area that begins a significant resistance down to the $2.50 level. If we were to break down below the $2.50 level, I think that the market could then breakdown significantly. Natural gas is a market that I sell only and have no interest whatsoever in buying as longer-term we still have major issues.

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    What is Invoice Factoring and Should You Use It?

  • Finance

    How McKinsey and Company’s “Radically Better Organization” Framework Applies to Freelancers

  • Finance

    How to Face Failure: You Can Damage or Strengthen Your Business

No Comments

Leave a reply Cancel reply

Top Finance

  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce
  • Shark Tank Recap: Shed Defender, Tata Towels and Sanaia Applesauce Secure Deals Shark Tank Recap: Shed Defender, Tata Towels and Sanaia Applesauce Secure Deals
  • Hedge Funds In The US Hedge Funds In The US
  • One Ring To Rule Them All One Ring To Rule Them All
  • Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates Dollar General (DG) Q2 Earnings And Revenues Surpass Estimates

New Posts

  • What is Invoice Factoring and Should You Use It?

    What is Invoice Factoring and Should You Use It?

    January 16, 2021
  • How McKinsey and Company’s “Radically Better Organization” Framework Applies to Freelancers

    How McKinsey and Company’s “Radically Better Organization” Framework Applies to Freelancers

    January 16, 2021
  • How to Face Failure: You Can Damage or Strengthen Your Business

    How to Face Failure: You Can Damage or Strengthen Your Business

    January 16, 2021
  • How Niches Provide New Growth Opportunities for Business

    How Niches Provide New Growth Opportunities for Business

    January 16, 2021
  • 2021 Social Media Design Trends All Small Business Owners Should Know

    2021 Social Media Design Trends All Small Business Owners Should Know

    January 16, 2021
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018 NJCEE. All Rights Reserved.