Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Stabilized After Sell-Off

Natural Gas

Natural gas is trying to settle above the resistance at $4.60 – $4.65 as the strong rally continues.

In case this attempt is successful, natural gas will head towards the next resistance level, which is located in the $5.00 – $5.05 range.

WTI Oil

WTI oil is swinging between gains and losses as traders react to the EIA report, which indicated that crude inventories increased by +6.4 million barrels from the previous week.

If WTI oil settles below the $58.00 level, it will head towards the support at $55.50 – $56.00.

Brent Oil

Brent oil has also stabilized after yesterday’s sell-off, which was triggered by the disappointing OPEC report.

RSI remains in the moderate territory, so there is plenty of room to gain additional momentum in the near term.

For a look at all of today’s economic events, check out our economic calendar.