Natural Gas and Oil Forecast: WTI Defends $73.70 While Brent Holds $77.55 — NatGas Eyes $3.321?

Precious Metals Fundamentals Hold Steady as Supply Risks Ease

By June 23, gold and silver continued to moderate, following a slight easing of geopolitical risk premiums after the U.S.-Iran memorandum of understanding. The document lays the groundwork for reestablishing access to the Strait of Hormuz and alleviates earlier energy-supply pressures.

While the immediate safe haven appeal of the metals has waned as a result of fewer geopolitical uncertainties, other key fundamental drivers remain in place. Central banks are continuing to buy net amounts, as some emerging-market banks diversify their reserves with a desire to be more nimble and avoid being locked into a traditional currency and debt.

Gold and silver mining continues to struggle to grow at a meaningful pace, as gold production still lags behind its peak by a wide margin while the precious metal supply remains insufficient to match a rising tide of industrial fabrication from solar, electronic and semiconductor manufacturing.

Broader macro-economic factors continue to be supportive: fiscal spending by many major governments creates ongoing demand for precious metals hedges against fiscal debasement risks and inflation in the event of currency or rate instability. Even while energy supply concerns abate with the easing of near-term pricing, silver’s industrial component provides support in addition to its currency-related demand. Gold and silver may be on a collision course with a renewed appreciation of central banks’ potential to provide further monetary easing, a sentiment that might help the metals in light of a stronger recovery.

Natural Gas Futures Rise to $3.272 – Ascending Channel Momentum Remains Strong on the 2H Chart

Natural Gas futures are at $3.272 on the 2-hour NYMEX. The 50-period moving average near $3.19 was broken on strong bullish continuation candles, though price is inside the ascending blue channel. Consecutive higher highs from the $3.099 swing low suggest control firmly in the hands of buyers.

The RSI stands above 55, meaning bullish momentum is gaining traction. Volume profile pinpoints $3.10 as the main support zone. The Fibonacci extension points toward $3.268 to $3.321. In general, the 2-hour market structure is bullish above $3.099; higher highs paired with higher lows have kept buyers firmly in charge.

Trade Idea: Buy at $3.272, with a target of $3.321 and stop-loss at $3.19.

WTI Crude Oil Holds $73.70 – Fibonacci 0.236 Support Encourages Stabilization on the 4H Chart

WTI Crude Oil is at $73.70 on the 4-hour chart, with bullish rebound candles protecting the 0.236 Fibonacci retracement near $77.69 after a plunge below the blue descending channel. Bullish rejection wicks and a series of higher lows off the $72.79 swing low demonstrate buyer absorption at support.

RSI is around 48, indicating neutral market momentum. Volume profile shows $77 to $80 is the main pivot cluster. The 50-period moving average near $80.76 is still acting as resistance. In sum, the market structure is neutral to bullish above $77.69 as price probes the lower boundary of the larger downtrend channel. The Fibonacci confluences along with the developing higher lows point to a likely stabilization.

Trade Idea: Enter long at $73.70, aiming for $77.72, and place a stop at $72.00.

Brent Crude Oil Dips to $77.55 – Descending Channel Support Holds on the 4H Chart

Brent Crude Oil is quoted at $77.55 on the 4-hour chart as mixed bullish and bearish candles have probed the lower boundary of the descending channel near $76.63. The 50-period moving average near $85.63 had rejected price previously. Bullish rejection wicks at support suggest buyers are stepping in and are preventing further weakness.

The RSI is around 50 and the market appears neutral on momentum. Volume profile shows an emerging fair-value area near $78 to $80. Resistance is located between $82.44 and $85.00. Despite a prevailing downtrend, the structure remains neutral to bullish on the 4H as long as the price stays above the channel support, and higher lows have so far lured buyers.

Trade Idea: Buy at $77.55, set the target at $82.44, and put a stop-loss at $76.00.