Natural gas rallied as traders focused on weather forecasts, which have trended colder over the weekend.
In case natural gas stays above the resistance at $3.25 – $3.30, it will move towards the next resistance level at $3.55 – $3.60.
WTI oil rebounded from session lows but remained under pressure amid concerns about supply glut.
In case WTI oil manages to settle back above the $58.00 level, it will head towards the resistance level at $60.00 – $60.50.
Brent oil continued its attempts to settle below the nearest support, which is located in the $60.50 – $61.00 range.
RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
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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.