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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Traders Stay Bullish
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Key Points:
- Natural gas pulls back after EIA report.
- WTI oil gains ground as traders stay bullish ahead of Fed decision.
- Brent oil attempts to settle above $76.00.
Natural Gas
Natural gas pulls back as traders focus on the EIA report, which showed that working gas in storage increased by 69 Bcf from the previous week.
If natural gas declines below the $2.65 level, it will head towards the support at $2.50 – $2.55.
WTI Oil
WTI oil continues to move higher as traders remain focused on OPEC+ decision to postpone its production hike.
A move above the $72.50 level will push WTI oil towards the resistance at $77.00 – $77.50.
Brent Oil
Brent oil is trying to climb above the $76.00 level as traders stay bullish after Trump’s victory.
In case this attempt is successful, Brent oil will move towards the resistance, which is lcoated in the $77.00 – $77.50 range.
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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