Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows
By:
Key Points:
- Natural gas attempts to rebound ahead of the weekend.
- WTI oil gained some ground as traders bet that U.S. and China will be able to negotiate a trade deal.
- Brent oil settled back above the $61.00 level.
Natural Gas
Natural gas is trying to settle back above the resistance at $3.00 – $3.05 as traders increase their long positions after a multi-day pullback.
A move above $3.05 will open the way to the test of the next resistance at $3.25 – $3.30.
WTI Oil
WTI oil rebounded from session lows as U.S. President Donald Trump noted that he could extend the tariff deadline to provide more space for negotiations with China.
The technical picture remains bearish, and WTI oil needs additional positive catalysts to break the current trend.
Brent Oil
Brent oil managed to gain some ground as traders remained focused on U.S – China trade war.
In case Brent oil settles below the support at $60.50 – $61.00, it will head towards the next support level, which is located in the $57.00 – $57.50 range.
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.
Advertisement