Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back Ahead Of The Weekend
- Natural gas did not manage to climb above $3.00 as weather forecasts remained bearish.
- WTI oil pulled back below the $91.00 level amid profit-taking.
- Brent oil declined towards the $92.00 level.
The nearest resistance for natural gas is located in the $3.00 – $3.05 range. A move above $3.05 will provide natural gas with an opportunity to gain strong upside momentum.
WTI oil is losing ground as traders continue to take profits near multi-month highs.
In case WTI oil manages to stay above the $90.00 level, it will get to another test of the nearest resistance at $92.50 – $94.00.
Brent oil is also losing ground amid a broad pullback in commodity markets.
RSI has moved back into the moderate territory, so Brent oil may gain solid upside momentum in case the right catalysts emerge.
For a look at all of today’s economic events, check out our economic calendar.