Natural Gas and Oil Forecast: WTI at $60 and Gas at $4.80 Signal Breakout Setup – Move Incoming?

Market Overview

WTI crude oil edged back toward $60 per barrel, recovering part of the prior session’s decline as traders weighed supply risks against steady global demand. Energy markets remain sensitive to geopolitical tensions, which continue to influence price expectations across oil and natural gas.

Leading producers have played down fears of a near-term glut, pointing to record global oil consumption last year and further demand growth projected for 2026, driven mainly by emerging economies and resilient US usage.

That optimism contrasts with forecasts showing supply still running ahead of demand in 2025. A softer US dollar offered short-term support, though concerns over rising output kept gains contained.

Natural Gas Price Forecast

Natural gas futures are trading near $4.81, easing after a sharp upside expansion from the $3.00–$3.20 base. The 2-hour chart shows a strong impulsive leg that sliced through the descending trendline and the 200-EMA, followed by corrective candles with long upper wicks, signaling profit-taking. Price stalled near the 1.618 Fibonacci extension at $4.89, then pulled back toward the 1.272 Fib at $4.49, which now acts as first support.

The former range high near $4.17 remains a deeper demand zone. Momentum has cooled, with RSI slipping from overbought toward the 55–60 area, suggesting consolidation rather than trend failure.

Trade idea: Buy on a hold above $4.48, target $5.05, stop below $4.15.

WTI Oil Price Forecast: USOIL Holds $59.70 as Rising Channel Tests Short-Term Direction

WTI crude oil is trading near $59.70, consolidating inside a rising channel on the 2-hour chart. Price is respecting an upward trendline drawn from the $55.75 low, while candles show small bodies and mixed wicks, signaling hesitation rather than aggressive selling.

The 50-EMA is flattening near $59.80, with the 200-EMA rising toward $59.00, reinforcing a layered support zone. Fibonacci retracement from $55.75 to $62.35 highlights $59.05 (50%) and $58.27 (61.8%) as key downside buffers. A short-term triangle is forming between $59.00 and $60.66 resistance. RSI hovers near 50, reflecting neutral momentum.

Trade idea: Buy above $60.00, target $60.65, stop below $59.00.

Brent Oil Price Forecast: UKOIL Trades Near $64.40 as Buyers Defend Rising Trend Support

Brent crude oil is holding around $64.40, consolidating above a rising trendline that originates from the $59.82 low. Price action on the 2-hour chart shows mixed candlesticks with long wicks, reflecting two-way flow rather than strong conviction.

The market remains inside a shallow ascending channel, with horizontal resistance capped near $65.35–$66.00. On the downside, support aligns around $64.10, followed by $63.30, which matches the 50% Fibonacci retracement of the $59.82–$66.80 move.

The 50-EMA is flattening above the rising 200-EMA, keeping structure constructive. RSI sits near 50, pointing to neutral momentum as price coils.

Trade idea: Buy on a hold above $64.10, target $65.35, stop below $63.30.