Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back From Session Highs Amid Profit-Taking
- Natural gas remains range-bound between the support at $2.60 and the resistance at $2.85.
- WTI oil is moving lower, RSI signals potential for a pullback.
- Brent oil faced significant resistance near the $95 level.
WTI oil pulled back from session highs as traders took some profits off the table after the strong rally.
RSI is in the overbought territory, so the risks of a technical pullback are rising day by day.
Brent oil has also moved lower after an unsuccessful attempt to settle above the psychologically important $95 level.
Brent oil looks overbought so traders will be extremely sensitive to any bearish news. The Fed decision, which will be released on Wednesday, will also serve as an important catalyst for Brent oil.
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