Price Forecast Archives - Iran News Daily

Natural Gas Markets Forecast

reporter 1222 — Sun, 29 Nov 2020 06:38:49 +0000

TEHRAN (Iran News)- Natural gas markets have pulled back a bit during the trading session on Friday, showing signs of a bit of a “give back” heading into the weekend. This makes sense because we have had a nice bounce during most of the week against the most immediate downtrend. However, longer-term we are still in an uptrend and we are sitting on top of the 50 days EMA which does tend to attract a lot of attention. Because of this, I am looking to buy signs of support or momentum heading towards the upside. If we break above the candlestick from the Thursday session, we very likely will go looking to fill the gap above.

“Natural Gas Price Forecast – Natural Gas Pull Back to End Week”

Keep in mind that the market is likely to continue to favor higher pricing over the next month or so, as we are trading the January contract, one of the most heavily positive months from a demand standpoint. As temperatures drop in the United States and northern Europe, that will continue to drive the demand for natural gas higher. At this point, I have no interest in trying to short natural gas, because of the cyclical trade if for no other reason. If you look at the chart from a longer-term perspective, you can make an argument for a bit of a channel, which we have recently bounced from. Typically, we will see the market rally for a little further, perhaps into the second week of January, when we start trading the spring contracts and sell off yet again.

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Gold Weekly Price Forecast

reporter 1222 — Sat, 28 Nov 2020 08:41:44 +0000

TEHRAN (Iran News) – Gold markets had a tough week, price breaking down below the $1800 level as the “risk-on” trade came back into vogue. That being said, we are testing the 50 week EMA and getting close to an area that should offer support due to the previous resistance that we had seen right around the $1750 level. Furthermore, we are getting close to the 38.2% Fibonacci retracement level so that of course could come into play as well. That all comes together for potential support, so I will be paying close attention to the next weekly candlestick as it could show a continuation of the overall trend. Until then, I would be a bit hesitant to short though, because we are getting close to a significant amount of noise in the chart.

“Gold Weekly Price Forecast – Gold Markets Have Tough Week”

Furthermore, if we get some type of big move against the US dollar, that could have gold turning around as well. With that being the case, I think that a simple amount of patience may be what it is that this market calls for. After all, central banks around the world will continue to throw liquidity at the markets, so I do think it is only a matter of time before gold comes back into play. I have no interest in shorting the market, we are clearly in a major uptrend and there is no point in trying to fight that. As the US Dollar Index is struggling at the 92 levels to find support, it is possible that we can see some type of bigger move, so keep that in the back of your mind as well.

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