Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests Multi-Week Highs As Rally Continues

Vladimir Zernov
Published: Jun 18, 2024, 18:28 GMT+00:00

Key Points:

  • Natural gas rebounds after the recent pullback.
  • WTI oil climbed above the $81.00 level.
  • Brent oil is trying to settle above the resistance at $85.00.
Natural Gas, WTI Oil, Brent Oil Forecasts

In this article:

Natural Gas

Natural Gas
Natural Gas 180624 Daily Chart

Natural gas rebounds as traders use the recent pullback as an opportunity to increase their long positions. The current demand for natural gas remains high due to hot weather.

In case natural gas settles above the $2.90 level, it will move towards the resistance at $3.02 – $3.09.


WTI Oil 180624 Daily Chart

WTI oil tests new highs as rally continues. Traders bet on rising demand during the summer season.

In case WTI oil stays above the $80.00 level, it will head towards the next resistance at $83.50 – $84.50.

Brent Oil

Brent Oil
Brent Oil 180624 Daily Chart

Brent oil tests resistance at $84.50 – $85.00 as traders stay bullish. Falling Treasury yields provide additional support to oil markets in today’s trading session.

In case Brent oil moves above the $85.00 level, it will head towards the resistance at $88.00 – $89.00.

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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