Natural Gas
Natural gas gains some ground as traders stay focused on forecasts, which indicate that weather may shift from warmer to near-normal conditions.
From the technical point of view, natural gas needs to settle above the 50 MA at $2.20 to have a chance to gain sustainable upside momentum.
WTI Oil
WTI oil is mostly flat despite Israel’s operation against Hamas in Rafah. At this point, traders believe that rising tensions in the Middle East will not hurt oil supplies.
If WTI oil fails to settle back above the $80.00 level, it will head towards the next support at $74.50 – $75.50.
Brent Oil
Brent oil is losing some ground as prices try to consolidate after the recent pullback.
RSI is in the moderate territory, so there is enough room to gain additional downside momentum in case the right catalysts emerge.
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