Natural Gas
Natural gas pulls back as traders take some profits off the table ahead of the weekend.
RSI remains in the moderate territory, so there is plenty of room to gain additional upside momentum in case the right catalysts emerge.
WTI Oil
WTI oil pulls back after an unsuccessful attempt to settle above the $80.00 level. The disappointing Michigan Consumer Sentiment report and rising Treasury yields served as bearish catalysts for WTI oil.
From the technical point of view, WTI oil needs to settle above the resistance at $79.00 – $80.00 to have a chance to gain sustainable momentum.
Brent Oil
Brent oil is losing ground amid a broad pullback in the oil markets. Geopolitical premium for oil has declined, and the market needs additional positive catalysts to move higher.
In case Brent oil settles below the $83.00 level, it will move towards the nearest support at $80.00 – $81.00.
For a look at all of today’s economic events, check out our economic calendar.
