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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Attempts To Rebound Ahead Of OPEC+ Meeting
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Key Points:
- Natural gas is losing ground as traders focus on bearish weather forecasts.
- WTI oil gained some ground after multi-day pullback.
- Brent oil settled near the $64.50 level.
Natural Gas
Natural gas retreats as weather forecasts show that demand will be weak in the upcoming days.
A successful test of the support at $3.25 – $3.30 will push natural gas towards the next support level at $3.00 – $3.05.
WTI Oil
WTI oil gained ground as traders took some profits off the table after the strong pullback.
If WTI oil declines below the support at $60.00 – $60.50, it will head towards the next support level at $55.50 – $56.00.
Brent Oil
Brent oil remained stuck near the support at $64.50 – $65.00 as traders were not ready for big moves ahead of OPEC+ meeting.
A move below the $64.50 level will open the way to the test of the support at $60.50 – $61.00.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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