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David Becker Articles

20 hours ago

Natural Gas Technical Report for February 28, 2017

Natural gas prices continued to trade on the defensive, as warmer than normal weather is forecast to cover most of the United States over the next 8-14 days.  The National Oceanic Atmospheric Administration forecast warm weather which should lower heating demand and natural gas demand.  Prices tumbled on Wednesday last week, dropping more than 9.5%, … Continue reading Natural Gas Technical Report for February 28, 2017

20 hours ago

WTI Crude Daily Update for February 28, 2017

  Crude oil prices continue to consolidate in a very tight range, attempting to break out but was rejected late in the session, and closed near its lows.   Traders await President Trumps speech to congress on Tuesday evening, before the commit to a direction. Prices of crude oil are capped by resistance near $55, and … Continue reading WTI Crude Daily Update for February 28, 2017

20 hours ago

Gold Price Prediction for February 28, 2017

Gold prices reversed course after hitting a higher high, but was unable to hold on to gains following a softer than expected EU M3 report.  While the optics of the reversal are negative, prices will need to take out Friday’s lows for there to be further downside.  Support is seen near the 10-day moving average … Continue reading Gold Price Prediction for February 28, 2017

21 hours ago

EUR/USD Prediction for February 28, 2017

The EUR/USD moved higher on Monday, but was unable to recapture resistance near the 10-day moving average at 1.0589.  Softer than expected Spanish inflation capped upside momentum. Support on the currency pair is seen near last week’s lows at 1.0492. Momentum remain negative, but appears to be turning neutral as the deceleration in the MACD … Continue reading EUR/USD Prediction for February 28, 2017

yesterday

Stocks Consolidate Ahead of Trump Speech to Congress

European shares are mixed as yields are slightly higher with Treasuries and Bunds modestly lower while Asian sovereigns and European peripherals are slightly higher. Trading was cautious ahead of President Trump’s State of the Union Tuesday. Stocks are mixed too with Japan’s Nikkei leading the decliners with a near 1% tumble as JPY rose on … Continue reading Stocks Consolidate Ahead of Trump Speech to Congress

3 days ago

Natural Gas Technical Report for February 27, 2017

Natural gas prices edged higher on Friday but continues to form a bear flag pattern.  This is a continuation pattern, which is a pause that generally refreshes.  Prices tumbled mid-week, following a warmer than normal forecast which covers most of the United States, which saw prices drop more than 9.5%.  According to the National Oceanic … Continue reading Natural Gas Technical Report for February 27, 2017

4 days ago

WTI Crude Daily Update for February 27, 2017

Crude oil prices moved lower on Friday, and remains range bound, unable to break out despite continued compliance from OPEC.  The small inventory build in crude oil was offset by a large total petroleum draw.  Exports from the United States are increasing at a rapid rate, which shows strong oil demand.  Resistance is seen near … Continue reading WTI Crude Daily Update for February 27, 2017

4 days ago

Gold Price Prediction for February 27, 2017

Gold prices broke out as sentiment in the U.S. and Germany started to slip, paving the way for higher gold prices.  The yellow metal pushed above resistance near a horizontal trend line near 1,244, which is now seen as support.  Resistance is seen near the November closing highs at 1,303.  Momentum has turned positive as … Continue reading Gold Price Prediction for February 27, 2017

4 days ago

EUR/USD Prediction for February 27, 2017

The EUR/USD attempted to move higher for a second consecutive trading session after finding a bottom on Wednesday, but was unable to take out resistance near a down. Downward sloping trend line that comes in near 1.0620.  Support is seen near the weekly lows at 1.0492. Momentum is neutral as the MACD (moving average convergence … Continue reading EUR/USD Prediction for February 27, 2017

Comex Gold Brick
4 days ago

European Shares Head South as Gold Breaks Out

European stock markets are heading south, following losses on most Asian markets. U.S. stock futures are also down. Disappointing earnings reports from the likes of Vivendi SA and BASF SE are adding to pressure. The Stoxx Europe 600 is still poised for another weekly gain, but the really has been running out of steam in … Continue reading European Shares Head South as Gold Breaks Out

5 days ago

Natural Gas Technical Report for February 24, 2017

Natural gas prices surged higher but ran into resistance near the 2.70 level following a larger than expected draw in natural gas inventories reported by the Department of Energy.  Warmer than normal weather continues to be forecast to cover most of the United States which is expected to reduce heating demand.  Prices closed up on … Continue reading Natural Gas Technical Report for February 24, 2017

5 days ago

WTI Crude Daily Update for February 24, 2017

Crude oil prices moved higher climbing 1.4%, but failed to take out resistance near Wednesday’s highs near $55, after rising as much as 2.6% on the session.  Prices received a jolt early from the larger than expected draw reported by the API, but the DOE’s numbers were more sanguine, allowing prices to ease back into … Continue reading WTI Crude Daily Update for February 24, 2017

5 days ago

Gold Price Prediction for February 24, 2017

Gold prices broke out as the dollar eased following softer than expected jobless claims that paved the way higher for the yellow metal.  Prices sliced through resistance near 1,244, which is now seen as support.  Target resistance on gold is now seen near the November closing highs at 1,303.  Momentum has turned positive as the … Continue reading Gold Price Prediction for February 24, 2017

5 days ago

EUR/USD Prediction for February 24, 2017

The EUR/USD edged higher on Thursday, despite mixed data which saw an uptick in German GDP and a decline in German confidence. The exchange rate came off its highs following comments from Dallas Fed Kaplan who stated that the Fed should move sooner rather than later. Support is seen near yesterday’s lows at 1.0493, while … Continue reading EUR/USD Prediction for February 24, 2017

5 days ago

European Stocks Consolidate at Elevated Levels Despite Rally in Oil

European stock markets are as the FTSE 100 and DAX are struggling at high levels, with the former held back by a stronger Pound and the latter by a reversal of safe haven flows as France and peripherals outperform. Commodity producers followed declines in copper prices, as a stronger dollar hurt base metals.  In Asia, … Continue reading European Stocks Consolidate at Elevated Levels Despite Rally in Oil

6 days ago

Natural Gas Technical Report for February 23, 2017

Natural gas prices consolidated on Wednesday, as traders await the EIA inventory report which is scheduled to be released on Thursday.  Prices made a lower low, dropping to 2.52, following Tuesday’s route which saw prices drop more than 9.5%.  Warmer than normal weather is forecast to cover most of the United States over the next … Continue reading Natural Gas Technical Report for February 23, 2017

6 days ago

WTI Crude Daily Update for February 23, 2017

WTI crude prices were lower today, correcting after gaining about 2% Tuesday, which left a seven-week high at $55.03. The January-3 19-month peak at $55.24 has remained unchallenged. The price action yesterday didn’t quite mark a breakout of the broadly sideways range that’s been persisting since early January. Crude oil prices made a lower high … Continue reading WTI Crude Daily Update for February 23, 2017

6 days ago

Gold Price Prediction for February 23, 2017

Gold prices whipsawed following the FOMC meeting minutes which shows that the Fed sees a rate hike coming relatively soon.  Prices of the yellow metal hovered near the 10-day moving average, but were able to recapture these levels near the end of the session.  Momentum has slowed to a halt, which is reflected by the … Continue reading Gold Price Prediction for February 23, 2017

6 days ago

EUR/USD Prediction for February 23, 2017

The EUR/USD rebounded from its lows on Wednesday but continued its path lower, as yields in the U.S. rose at a quicker pace than European yields. The FOMC said in its minutes that officials saw chance of a hike fairly soon if the economy remained on track. That’s not a new sentiment, however, and doesn’t … Continue reading EUR/USD Prediction for February 23, 2017

6 days ago

Stocks Consolidate as Oil Slides Despite Solid Confidence Data

European shares are mixed as the European stock rally fizzles out. European stock markets started strong following on from gains on most Asian markets, which in turn took their cue from the rally in the U.S. Tuesday. The Nikkei closed slightly in the red, however, as a stronger Yen spoiled the party for exporters. Lloyds … Continue reading Stocks Consolidate as Oil Slides Despite Solid Confidence Data

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