Natural gas rebounds as traders react to the EIA report, which indicated that working gas in storage increased by +53 Bcf from the previous week.
A move above the resistance at $3.35 – $3.40 will open the way to the test of the next resistance level at $3.60 – $3.65.
WTI oil is losing ground as U.S. and Iran resume negotiations about Iran’s nuclear program.
In case WTI oil settles below the support at $66.00 – $66.50, it will head towards the next support level at $62.00 – $62.50.
Brent oil pulled back as geopolitical risk premium declined. Currently, Brent oil is heading towards the support at $67.50 – $68.00.
A move below the $67.50 level will push Brent oil towards the next support at $63.50 – $64.00.
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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.