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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains 1.5% As Traders Focus On Venezuela
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Key Points:
- Natural gas rebounded from session lows.
- WTI oil moved higher as traders focused on the U.S. operation in Venezuela.
- Brent oil climbed above the $61.00 level.
Natural Gas
Natural gas managed to move away from session lows as some traders were ready to bet on a rebound after the strong pullback.
In case natural gas settles back above the $3.50 level, it will head towards the nearest resistance, which is located in the $3.70 – $3.75 range.
WTI Oil
WTI oil gains ground as traders react to the U.S. operation in Venezuela and evaluate its potential impact on the country’s oil exports.
A move above the 50 MA at $58.86 will push WTI oil towards the resistance level at $60.00 – $60.50.
Brent Oil
Brent oil moved higher, supported by rising geopolitical tensions. Currently, Brent oil is trying to settle above the resistance at $60.50 – $61.00.
In case this attempt is successful, Brent oil will move towards the 50 MA at $62.84.
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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