WTI oil moved higher as traders remained focused on U.S. - China relations.
Brent oil settled above the $63.00 level.
Natural Gas
Natural Gas 131025 Daily Chart
Natural gas gained ground as traders took some profits off the table after the strong pullback.
A move above the $3.15 level will open the way to the test of the resistance at $3.25 – $3.30.
WTI Oil
WTI Oil 131025 Daily Chart
WTI oil is moving higher as traders buy the dip despite worries about U.S. – China trade war.
From the technical point of view, WTI oil needs to settle back above the resistance at $60.00 – $60.50 to have a chance to gain upside momentum in the near term.
Brent Oil
Brent Oil 131025 Daily Chart
Brent oil climbed back above the $63.00 level and made an attempt to settle above $64.00.
A move above $64.00 will lead to the test of the nearest resistance, which is located in the $64.50 – $65.00 range.
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.