Natural Gas
Natural gas is under strong pressure as traders focus on warm weather, which put pressure on demand.
RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.
WTI Oil
WTI oil tests new highs as traders bet that U.S. will soon deliver strikes against Iran. Today, traders also had a chance to take a look at the EIA report. The report indicated that crude inventories increased by +3.4 million barrels, compared to analyst forecast of -2.2 million barrels.
The technical picture is bullish as WTI oil managed to settle above the resistance at $60.00 – $60.50.
Brent Oil
Brent oil climbed above the $66.00 level as traders waited for U.S. actions against Iran.
A move above $67.00 will open the way to the test of the next resistance at $69.50 – $70.00.
Natural Gas Price Forecast
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