Forecasts & Analysis | , Page 1

Natural gas prices whipsawed for a second consecutive trading session initially testing lower levels and then rebounding to close the session -0.6%. For the week, prices rallied nearly 4% but well of the highs of the week. This follows Thursday’s outside day reversal pattern is a negative sign. The weather

Gold is on track to reach our $1700 target earlier than expected – the breakout in miners confirms.

Based on the early price action and the current price at $53.42, the direction of the April WTI crude oil market into the close on Friday is likely to be determined by trader reaction to the uptrending Gann angle at $53.63.

Based on the early price action and the current price at $1651.20, the direction of the April Comex gold contract into the close will be determined by trader reaction to the steep uptrending Gann angle at $1639.12.

The S&P 500 initially tried to rally during the week, but then broke down significantly. At this point, the market looks as if it may try to go reaching towards the uptrend line. Either way though, the market is still bullish.

The silver markets rallied rather stringently during the week, as we tested the $18.50 level. The hammer from the previous week was preceded by several other ones, showing just how much buying pressure there was underneath.

Crude oil markets had a choppy week, testing support but then bouncing a bit before pulling back yet again. This is going to be a very noisy market going forward as all things China continue to be in the front of traders mind.

Natural gas markets had initially rally during the week but ran into a significant amount of resistance at the $2.00 level. At this point, it’s very likely that the market is going to continue to be very noisy.

The gold markets broke out during the week, clearing the $1600 level in a very bullish run. At this point, the market looks as if it is ready to go much higher given enough time.

The S&P 500 pulled back a bit during the trading session on Friday as we continue to see a little bit of easing of bullish pressure. That makes sense though, considering that the weekend is coming and there are plenty of headline risks out there.