Natural Gas and Oil Forecast: Rising Tensions Keep Oil Firm at $64 – Break or Fade Next?

Market Overview

Oil and natural gas markets are reacting to growing geopolitical tensions, which are making the global energy outlook uncertain. WTI crude futures are steady around $64.3 per barrel, as supply risks increase due to security warnings in important shipping routes.

Diplomatic talks have made some progress, but doubts about how long this will last are keeping risk premiums in prices. Traders are also watching changes in global crude flows, especially if major Asian buyers start to buy less.

If disruptions continue, oil supplies could get tighter and prices may rise further. Meanwhile, natural gas prices are still volatile as markets rethink short-term demand and overall risk in energy assets.

Natural Gas Price Forecast: $3.09 Tests Demand Zone After Sharp Cool-Off

Natural gas is trading close to $3.09 on the 2-hour chart, moving back into a demand zone between $3.05 and $3.15. Recent candlesticks have smaller bodies and lower wicks in this range, which suggests buyers are stepping in instead of sellers rushing out. Overall, the price has rallied strongly from below $1.50 and is now in a correction.

The price is now just under the 50-period moving average. The 100-period average, which is near $2.35, is still rising, so the medium-term outlook remains positive.

Looking at Fibonacci levels, the pullback is holding near the 50% retracement of the move from $1.47 to $4.41. The RSI is around 45, which means momentum is slowing but not yet oversold. Resistance is at $3.64, and support is solid at $3.05 and $2.35.

Trade idea: Consider buying near $3.05, set a stop below $2.90, and aim for a target of $3.64.

WTI Oil Price Forecast: $64 Holds as USOIL Consolidates Above Rising Trendline

WTI crude oil (USOIL) is trading around $64.30 on the 2-hour chart, moving sideways after it could not push past $66.45. Recent candlesticks have overlapping bodies and long wicks, which shows the market is undecided rather than strongly selling. The price is still above a rising trendline from the January lows, so the short-term outlook remains positive.

The 50-period moving average near $63.90 is providing immediate support, and the 100-period average around $61.20 lines up with the lower channel edge. Looking at Fibonacci levels, the pullback is staying above the 38.2% retracement of the $58 to $66 rally, which suggests buyers are still stepping in on dips. The RSI is close to 50, showing neutral momentum. Resistance is at $65.50 and $66.45, while support is at $63.80 and $62.60.

Trade idea: Consider buying near $63.80, set a stop below $62.50, and aim for a target of $65.50.

Brent Oil Price Forecast: $69 Breakout Tests Rising Trend Structure

Brent crude (UKOIL) is trading around $69.05 on the 2-hour chart, staying strong after moving up from $65.40. Recent candlesticks show higher lows and small bodies near $69.40, which points to steady buying. The price is following a rising trendline from late January, so the short-term outlook remains positive.

The 50-period moving average near $68.10 is providing short-term support, and the 100-period average around $65.40 supports the overall uptrend. Looking at Fibonacci levels, the price is holding above the 50% retracement of the $63.20 to $70.50 move.

The RSI is just above 50, showing steady momentum and no signs of being overbought. Resistance is at $69.45 and $70.54, with support at $68.10 and $66.85.

Trade idea: Consider buying near $68.20, set a stop below $66.80, and aim for a target of $70.50.