The intraday negative pressure increased on copper price trading due to stochastic attempt to exit from the overbought level, which forces it to settle below $5.9700, forcing it to form corrective waves by reaching $5.7900.

The price might decline towards the initial support at $5.7500 by the continuation of the negative pressure will increase the chances of breaking this support, to expect targeting extra corrective stations that begin at $5.6300 and $5.5100, while its success to step above $6.000 will open the way for recording new historical gains by its rally towards the bullish channel’s resistance at $6.1800.

The expected trading range for today is between $5.6300 and $5.9700

Trend forecast: Bearish

Salesforce (CRM) stock price recorded further gains in its latest intraday trading, following its rebound from the support of its SMA50, which provided the stock with positive momentum that helped drive these gains. This move comes alongside the stock retesting a previously broken short-term downward trend line, while the RSI has reached extremely oversold levels compared to the stock’s price action, indicating a rapid buildup of additional positive momentum in the near term.

Therefore we expect the stock price to rise in upcoming trading, provided that the $252.30 support level holds, to target the $296.00 resistance level.

Today’s price forecast: Bullish

NEW YORK, Jan 7, 2026, 15:34 (EST) — Regular session

Key points:

• U.S. front-month natural gas futures rose about 6% to around $3.55 per mmBtu on Wednesday.
• Weather outlooks are turning choppier, with colder risks building for mid-January in key demand regions.
• The next catalyst is Thursday’s EIA storage report, a key gauge of winter withdrawals.

U.S. natural gas futures climbed nearly 6% on Wednesday, rebounding from a $3.35 close a day earlier as traders leaned on a colder mid-month weather picture. The front-month Henry Hub contract was around $3.55 per million British thermal units (mmBtu), after trading between $3.42 and $3.59 on the day.  Investing

The bounce matters now because the market has been trading the weather first and everything else second. A few warmer model runs have been enough to push prices down sharply; a colder run can flip the tape just as fast, especially when storage data is due.

Natural gas demand in winter hinges on space heating and power burn, and traders often translate that into “heating degree days” — a rough measure of how much heating demand temperatures imply. When the market starts arguing over a mid-month cold shot, the storage math for the next couple of weeks moves with it.

The National Weather Service’s Climate Prediction Center said a pattern shift should drive a downward temperature trend across much of the East, even as the early part of the outlook window stays mild. The agency’s discussion flagged the best odds for colder conditions expanding later in the period across areas east of the Rockies, a setup that typically pulls more gas into residential and commercial heating demand.  Noaa

Commodity Weather Group said colder conditions are now projected for parts of the Midwest and East Coast around Jan. 17–21, and Barchart said that helped trigger short covering in natural gas. BloombergNEF estimates cited by Barchart put lower-48 dry gas production at 112.6 billion cubic feet per day (bcfd) on Wednesday, with demand at 89.5 bcfd and LNG net flows to U.S. export terminals at 18.4 bcfd.  Barchart

LNG remains a swing factor in the broader price outlook, even when the day-to-day trade is weather. EOG Resources finance chief Ann Janssen said on Wednesday that the buildout of liquefied natural gas infrastructure could eventually lead to oversupply and weigh on natural gas prices.  Reuters

The next hard datapoint is storage. Working gas in U.S. storage was 3,375 billion cubic feet (Bcf) as of Dec. 26, down 38 Bcf on the week and about 1.7% above the five-year average, EIA data showed; the next report is scheduled for Thursday.  Eia

Technically, Wednesday’s range puts the market back within sight of the $3.60 area, with support building around the mid-$3.40s. But the downside case is still simple: if warmer forecasts reassert themselves and withdrawals stay light, futures can slip back toward the low-$3.30s quickly.

Traders are watching Thursday’s EIA storage release — normally published at 10:30 a.m. Eastern on Thursdays — for confirmation that colder risks are translating into bigger draws, and whether the weather models hold onto that mid-January chill.  Eia

The GBPJPY pair ended the last bullish rally by recording 212.15 level, to bounce directly to settle near 211.30, which formed strong obstacle against the bullish attempts.

Note that the stability within the main bullish levels and forming extra support at 211.30 level, which makes us wait for gathering bullish momentum to reinforce the chances of recording the target at 212.55 and surpassing it might extend trading towards 213.75, while reaching below 211.30 and providing negative close will confirm delaying the bullish attack, to begin forming temporary corrective wave, to target 210.65 and 209.90 level.

The expected trading range for today is between 211.00 and 212.50

Trend forecast: Bullish

February WTI crude oil (CLG26) today is closed down -0.81 (-1.42%), and February RBOB gasoline (RBG26) is down -0.007 (-0.04%).

Crude oil and gasoline prices are under pressure today, with crude falling to a 2-week low. Crude prices tumbled today after the US lifted sanctions on Venezuelan crude exports and President Trump said Venezuela’s interim authorities agreed to give up as many as 50 million bbl of “high-quality sanctioned oil” to the US.

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Crude prices recovered from their worst level after weekly EIA crude inventories fell more than expected. Also, heightened geopolitical tensions are supportive for crude after the US seized a Russian-flagged oil tanker for sanction violations. In addition, today’s rally in the S&P 500 to a new record high shows confidence in the economic outlook that is supportive of energy demand,

Concerns about energy demand are negative for crude prices after Saudi Arabia on Monday cut the price of its Arab Light crude for February delivery to customers for a third month.

Morgan Stanley predicted that a global oil market surplus is likely to expand further and peak mid-year, pressuring prices, as it cut its crude price forecast for Q1 to $57.50/bbl from a prior forecast of $60/bbl, and cut its Q2 crude price forecast to $55/bbl from $60/bbl.

Vortexa reported Monday that crude oil stored on tankers that have been stationary for at least 7 days fell -3.4% w/w to 119.35 million bbl in the week ended January 2.

Strength in Chinese crude demand is supportive for prices. According to Kpler data, China’s crude imports in December are set to increase by 10% m/m to a record 12.2 million bpd as it rebuilds its crude inventories.

Crude garnered support after OPEC+ on Sunday said it would stick to its plan to pause production increases in Q1 of 2026. OPEC+ at its November 2025 meeting announced that members would raise production by +137,000 bpd in December, but will then pause the production hikes in Q1-2026 due to the emerging global oil surplus. The IEA in mid-October forecasted a record global oil surplus of 4.0 million bpd for 2026. OPEC+ is trying to restore all of the 2.2 million bpd production cut it made in early 2024, but still has another 1.2 million bpd of production left to restore. OPEC’s November crude production fell by -10,000 bpd to 29.09 million bpd.

Ukrainian drone and missile attacks have targeted at least 28 Russian refineries over the past four months, limiting Russia’s crude oil export capabilities and reducing global oil supplies. Also, since the end of November, Ukraine has ramped up attacks on Russian tankers, with at least six tankers attacked by drones and missiles in the Baltic Sea. In addition, new US and EU sanctions on Russian oil companies, infrastructure, and tankers have curbed Russian oil exports.

Last month, the IEA projected that the world crude surplus will widen to a record 3.815 million bpd in 2026 from a 4-year high of over 2.0 million bpd in 2025.

Last month, OPEC revised its Q3 global oil market estimates from a deficit to a surplus, as US production exceeded expectations and OPEC also ramped up crude output. OPEC said it now sees a 500,000 bpd surplus in global oil markets in Q3, versus the previous month’s estimate for a -400,000 bpd deficit. Also, the EIA raised its 2025 US crude production estimate to 13.59 million bpd from 13.53 million bpd last month.

Today’s weekly EIA inventory report was mixed for crude and products. On the negative side, EIA gasoline supplies rose +7.7 million bbl to a 10-month high, a larger build than expectations of +2.0 million bbl as US gasoline demand tumbled to a 1-year low of 8.17 million bpd. Also, EIA distillate stockpiles rose 5.59 million bbl to a 1-year high, a larger build than expectations of +1.1 million bbl. In addition, crude supplies at Cushing, the delivery point of WTI futures, rose by +728,000 bbl. On the positive side, EIA crude inventories fell by -3.83 million bbl, a larger draw than expectations of -1.0 million bbl.

Today’s EIA report showed that (1) US crude oil inventories as of January 2 were -4.1% below the seasonal 5-year average, (2) gasoline inventories were +1.6% above the seasonal 5-year average, and (3) distillate inventories were -3.1% below the 5-year seasonal average. US crude oil production in the week ending January 2 was down -0.1% w/w to 13.811 million bpd, just below the record high of 13.862 million bpd from the week of November 7.

Baker Hughes reported last Tuesday that the number of active US oil rigs in the week ended January 2 rose by +3 rigs to 412 rigs, recovering from the 4.25-year low of 406 rigs posted in the week ended December 19. Over the past 2.5 years, the number of US oil rigs has fallen sharply from the 5.5-year high of 627 rigs reported in December 2022.

On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.For more information please view the Barchart Disclosure Policy here.

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