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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Focus On Cold Weather
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Key Points:
- Natural gas moved above the $3.75 level as traders reacted to the changes in weather forecasts.
- WTI oil attempts to settle above the $74.00 level.
- Brent oil moved towards the $77.00 level.
Natural Gas
Natural gas is moving higher, supported by cold weather forecasts which indicate that demand would be strong in the near term.
In case natural gas settles above $3.80, it will head towards the nearest resistance level at $3.95 – $4.00.
WTI Oil
WTI oil gains ground as traders bet that cold weather would boost demand for energy.
If WTI oil settles above the $74.00 level, it will move towards the recent highs near the psychologically important $75.00 level.
Brent Oil
Brent oil continues its attempts to settle above the resistance at $77.00 – $77.50 amid broad rally in the oil markets.
A move above the $77.50 level will push Brent oil towards the next resistance at $81.00 – $81.50.
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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