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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains 1% As Traders Focus On Weak Dollar
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Key Points:
- Natural gas moved away from session highs amid profit-taking.
- WTI oil gained ground as traders bet on rising demand from China.
- Brent oil moved towards the $68.00 level.
Natural Gas
Natural gas pulled back from session highs as traders took some profits off the table after the rebound from recent lows.
If natural gas manages to settle above the $3.05 level, it will head towards the resistance at $3.25 – $3.30.
WTI Oil
WTI oil gains ground as traders focus on weak dollar and react to Manufacturing PMI data from China.
A move above the $65.00 level will open the way to the test of the nearest resistance at $66.00 – $66.50.
Brent Oil
Brent oil continues its attempts to settle above the resistance level at $67.50 – $68.00.
If Brent oil settles above $68.00, it will head towards the next resistance at $71.00 – $71.50.
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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