78.6% Retracement Recovery Adds Short-Term Significance

There are two indicators to note when looking to see if there is some significance to Monday’s new retracement low. An internal uptrend line was close to Monday’s low and marked potential dynamic support. More significant is the relationship to the 78.6% Fibonacci retracement at $3.45. It was broken to the downside earlier in Monday’s session but has since been recovered. Natural gas is on track to end the day with a bull hammer candle and a recovery of the 78.6% retracement, which will confirm with a daily close above the level. So, the daily close is set to show support near the Fibonacci level.

First Close Below 200-Day Average Since October

Despite the minor short-term signs of strength, today’s decline put natural gas below the 200-day moving average for the first time since late October, and it is set to close in a similar, relatively bearish position. Signs of strong support was possible near the 200-day line since it had not been tested as support after it was reclaimed at the end of October. The bearish failure confirmed by a daily close below the 200-day average today will suggest that downside pressure may yet remain.

Reclaim Levels Needed to Confirm Improving Demand

The 200-day line is now at $3.57, and Friday’s lower daily high is at $3.70. Although a reclaim of the 200-day average will show improving demand, a sustained breakout above a lower daily high will provide greater assurance that demand is continuing to improve and that the reclaim of the 200-day line may be sustainable.

Lower ABCD Projection Defines Deeper Downside Risk

If sellers remain in charge before a bounce, there is another potential target a little lower than what has been seen so far, at $3.26. That target is the 78.6% projection for a falling ABCD pattern that defines the measured moves of the bearish correction that followed the $5.50 peak in early-December.

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AT&T Inc. (T) declined in its latest intraday trading after colliding with resistance at its 50-day SMA, which exposed the stock to mounting negative pressure. This pressure intensified with the emergence of negative signals from the RSI after reaching severely overbought levels, exaggerated relative to price action, while the main bearish trend continues to dominate the short term.

Therefore we expect the stock price to decline in the upcoming trading sessions, as long as resistance at $25.00 holds, to target the key support level at $24.00.

Today’s price forecast: Bearish

Created on January 05, 2026

The WTI crude oil price is showing signs of bottoming after hitting a key support level at $55.40. It has plunged by over 25% from its highest level in 2025 and is hovering near its lowest level in years.

WTI Crude Oil to React Mildly to Venezuela Crisis

Crude oil prices will be in the spotlight on Monday as the market comes to terms with the recent developments in Venezuela, where Donald Trump staged a major attack and arrested the country’s president.

In his press conference, Trump insisted that the United States will now be in charge of the country, with its large energy companies investing billions of dollars.

In theory, the fall of the Maduro regime should be bearish for oil prices. For one, with the US in control, it means that sanctions will be lifted and that production will be boosted.

However, in reality, Venezuela is still a small player in the oil market, producing less than 1 million barrels of oil a day. Also, American investments will take years to materialize. And worse, regime changes often lead to destabilization of countries and supply.

The other main catalyst for the WTI crude oil price will be the OPEC+ meeting in which officials are expected to stick with their plans to pause supply increases in the first quarter. The cartel increased supply rapidly last year, leading to concerns about oversupply in the market.

Meanwhile, the US will publish the first inventory report on Wednesday. The report by the EIA is expected to show that inventories dropped by over 1 million in the last week of the month.

Crude Oil Technical Analysis

The weekly chart shows that the WTI crude oil price has been in a strong downward trend in the past few months. It bottomed at $54.40, its lowest level in April and December last year.

Oil has formed a double-bottom pattern, which is made up of two lower swings and a a neckline, which is at $77.32.

However, technical indicators suggest that oil may continue falling in the near term. For one, the price remains below the 50-week and 100-week Exponential Moving Averages (EMA). The MACD and the Relative Strength Index (RSI) have continued falling in the past few weeks.

Therefore, the most likely oil forecast is neutral with a bullish bias. The bullish outlook will remain as long as it is above the double-bottom pattern point at $55.39. A drop below that level will point to more downside, potentially to $50.

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The EURJPY pair activated negatively with stochastic decline towards the oversold to test the bullish channel’s support at 183.45, attempting to settle above it to keep the bullish trend and begin targeting some bullish stations by its rally towards 184.40, and surpassing it will open the way for reaching the next positive target at 184.90.

While facing new negative pressure by reaching below the current support will confirm its surrender to the bearish corrective trend, which forces it to suffer extra losses by reaching 183.10 and 184.90.

The expected trading range for today is between 183.50 and 184.40

Trend forecast: Bullish

Copper price kept the positive stability above $5.5100 support in the last trading, to rally towards the initial target at $5.8100, taking advantage of stochastic stability within the overbought level.

The continuation of the pressure on $5.8100 level might allow it find an exit for resuming the bullish attack, to expect breaching $5.9700 to extend the trading towards the bullish channel’s resistance at $6.1700 level.

The expected trading range for today is between $5.6100 and $5.9700

Trend forecast: Bullish

Platinum price ended the bearish corrective attack by targeting $1905.00 level, forming key liquidity sweep zones, enabling it to renew the bullish rally to reach $2255.00 level, announcing the continuation of the main bullish scenario.

To confirm gathering extra bullish momentum to ease the mission of holding above $2235.00 level is important to reinforce the chances of recording new gains by its rally towards $2325.00 reaching the next barrier near $2415.00.

The expected trading range for today is between $2095.00 and $2290.00

Trend forecast: Bullish

No news for GBPJPY pair until this moment due to its stability below 211.30 barrier, which forces it to provide new sideways fluctuated moves and delay the bullish rally in the current trading.

There are a chance for forming bearish corrective waves to target 210.40 level, reaching extra support near 209.70, while breaching the current barrier and holding above it, will provide a chance for a new bullish waves, to record extra gains by its rally towards 212.50 reaching the bullish channel’s resistance at 213.55.

The expected trading range for today is between 209.30 and 211.30

Trend forecast: Fluctuated within the bullish trend

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