Natural gas is under pressure as traders focus on strong production and cooler weather forecasts.
A successful test of the support at $2.70 – $2.75 will push natural gas towards the next support level at $2.50 – $2.55.
WTI oil is moving higher as traders focus on the strong pullback of the American currency.
If WTI oil climbs above the $64.00 level, it will move towards the resistance at $66.00 – $66.50.
Brent oil tests resistance at $67.50 – $68.00 as traders stay bullish ahead of the weekend.
In case this test is successful, Brent oil will move towards the 50 MA at $69.35.
For a look at all of today’s economic events, check out our economic calendar.
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.