Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back From Session Highs On Profit-Taking

Natural Gas

Natural gas moved away from session lows as traders used the recent pullback as an opportunity to increase their long positions.

In case natural gas settles back above the support at $3.25 – $3.30, it will head towards the next resistance level at $3.55 – $3.60.

WTI Oil

WTI oil pulled back from session highs as traders have started to take profits off the table after the recent rally.

From the technical point of view, WTI oil needs to settle above the 50 MA at $62.25 to gain additional upside momentum in the near term.

Brent Oil

Brent oil is mostly flat as traders wait for additional catalysts and monitor the potential impact of recent sanctions on Russia’s biggest oil companies.

RSI remains in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

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