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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows As Traders Ignore Recession Risks

By:
Vladimir Zernov

Oil traders bought the dip despite worries about the economy and the potential U.S. government shutdown.

Natural Gas, WTI Oil, Brent Oil Forecasts

In this article:

Key Insights

  • Natural gas remains under pressure amid worries about low demand. 
  • WTI oil managed to climb back above the $90.00 level. 
  • Brent oil rebounded as traders focused on tight supplies. 

Natural Gas

Natural Gas
Natural Gas 260923 Daily Chart

Natural gas continues is attempts to settle below the support at $2.60 as traders remain worried about low demand in the upcoming days.

RSI is in the moderate territory, so there is plenty of room to gain additional downside momentum if natural gas settles below $2.60.

WTI Oil

WTI Oil
WTI Oil 260923 Daily Chart

WTI oil rebounded from session lows as traders ignored recession worries and focused on tight supplies.

If WTI oil settles back above $90.00, it will head towards the resistance at $92.50 – $94.00.

Brent Oil

Brent Oil
Brent Oil 260923 Daily Chart

Brent oil has also managed to rebound in today’s trading session. Oil bulls used the recent pullback as an opportunity to increase their long positions.

RSI has recently pulled back into the moderate territory, which was bullish for Brent oil.

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

About the Author

Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.

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