Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds After Strong Sell-Off

Key Insights

• Natural gas rallies as traders focus on the bullish changes in weather forecasts. 
• WTI oil moves higher as dollar pulls back from recent highs. 
• Brent oil tries to settle back above the $85.00 level. 

Natural Gas

Natural gas rallies after the successful test of the previous resistance at $3.00 – $3.05. Cooler weather trends provide additional support to natural gas markets.

The nearest material resistance level for natural gas is located in the $3.60 – $3.75 range, so there is plenty of room to gain additional upside momentum.

WTI Oil

WTI oil rebounds from recent lows as traders take some profits off the table after the strong move.

In case WTI oil settles back above the $83.00 level, it will head towards the nearest resistance at $86.00 – $87.30.

Brent Oil

Brent oil gains some ground after the release of the better-than-expected U.S. Non Farm Payrolls report, which showed that U.S. economy remained in a decent shape.

If Brent oil moves above the $85.30 level, it will head towards the resistance at $88.80 – $90.00.

For a look at all of today’s economic events, check out our economic calendar.