Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Stay Range-Bound

Natural Gas

Natural gas continues to move higher as traders stay focused on colder weather forecasts. Short-covering may have provided additional support to natural gas markets in recent trading sessions.

A successful test of the resistance at $3.55 – $3.60 will open the way to the test of the next resistance level at $4.00 – $4.05.

WTI Oil

WTI oil remained range-bound as U.S. President Donald Trump noted that he was unsure whether the meeting with Chinese President Xi Jinping would happen this month.

A move above the $58.00 level will open the way to the test of the nearest resistance at $60.00 – $60.50.

Brent Oil

Brent oil is stuck near the support level at $60.50 – $61.00 as traders stay focused on U.S. – China trade war.

From the technical point of view, Brent oil needs to settle below the support at $57.00 – $57.50 to gain additional downside momentum in the near term.

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