Natural Gas
Natural gas pulled back as traders remained focused on weak demand. Most likely, the recent rally was triggered by short-covering, and natural gas will need additional catalysts to move higher.
Currently, natural gas is trying to settle below the support at $1.60 – $1.65. In case this attempt is successful, it will test new lows.
WTI Oil
WTI oil pulls back after an unsuccessful attempt to settle above the resistance at $79.00 – $80.00.
The technical picture has not changed as WTI oil stays range-bound below the key resistance level.
Brent Oil
Brent oil is moving lower amid a broad pullback in the oil markets. Traders stay cautious as Fed may wait until summer before cutting rates.
In case Brent oil declines below the $80.00 level, it will head towards the support at $77.50 – $78.25.
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