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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats On Profit-Taking
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Key Points:
- Natural gas tests resistance at $4.00 - $4.05.
- WTI oil pulled back below the $69.50 level as traders focused on tariffs.
- Brent oil settled below the $74.00 level.
Natural Gas
Natural gas gains ground as traders bet on a rebound despite mild weather forecasts.
In case natural gas settles above the resistance at $4.00 – $4.05, it will head towards the next resistance at $4.25 – $4.30.
WTI Oil
WTI oil pulls back as traders take some profits off the table after the strong rebound from March lows.
If WTI oil settles back below the $69.00 level, it will head towards the support at $67.00 – $67.50.
Brent Oil
Brent oil is moving lower amid broad pullback in the oil markets. Tariff fears put some pressure on oil prices ahead of the weekend.
A move below the $73.00 level will push Brent oil towards the support at $71.00 – $71.50.
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.
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