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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Focus On Rising Demand
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Key Points:
- Natural gas moved back towards the support at $1.60 - $1.65.
- WTI oil continues its attempts to settle above $81.50.
- Brent oil is moving higher ahead of the weekend.
Natural Gas
Natural gas is losing ground as bulls did not find positive catalysts to continue the rebound.
The nearest support level for natural gas is located in the $1.60 – $1.65 range. A move below $1.60 may trigger a sell-off.
WTI Oil
WTI oil gains ground as traders stay focused on rising demand and tensions in the Middle East.
The technical picture looks bullish as WTI oil managed to stay above the resistance at $79.00 – $80.00.
Brent Oil
Brent oil is also moving higher ahead of the weekend. The market sentiment remains bullish despite rising Treasury yields.
RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum.
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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