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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moved Away From Session Highs On Profit-Taking
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Key Points:
- Natural gas rallied, supported by colder weather forecasts.
- WTI oil settled above the $61.00 level as traders reacted to U.S. - China trade truce.
- Brent oil failed to settle above the $66.00 level.
Natural Gas
Natural gas gains ground as traders focus on weather forecasts, which have trended colder over the weekend.
In case natural gas settles above the resistance at $3.55 – $3.60, it will head towards the next resistance level at $4.00 – $4.05.
WTI Oil
WTI oil is swinging between gains and losses as traders react to U.S. – China trade truce.
If WTI oil settles above the 50 MA at $62.21, it will move towards the nearest resistance level, which is located in the $66.00 – $66.50 range.
Brent Oil
Brent oil settled below the $66.00 level as traders continued to take profits after the recent rally.
If Brent oil moves below the support at $64.50 – $65.00, it will head towards the next support level at $60.50 – $61.00.
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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