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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Multi-Week Lows
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Key Points:
- Natural gas remains under pressure due to bearish weather forecasts.
- WTI oil attempts to settle above the $64.00 level.
- Brent oil moved towards the $67.00 level.
Natural Gas
Natural gas is losing ground as traders focus on bearish changes in weather forecasts.
In case natural gas settles below the $2.90 level, it will move towards the support at $2.70 – $2.75.
WTI Oil
WTI oil gains ground as traders bet on a rebound after the strong pullback from recent highs.
A move above the $64.50 level will push WTI oil towards the resistance level at $66.00 – $66.50.
Brent Oil
Brent oil is also moving higher as traders continue to take profits after the strong move.
From the technical point of view, Brent oil needs to settle above the resistance at $67.50 – $68.00 to gain upside momentum in the near term.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
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.
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