Natural gas tests new lows as traders focus on milder weather forecasts for the end of January.
If natural gas setles below the $3.75 level, it will move towards the nearest support at $3.55 – $3.60.
WTI Oil
WTI Oil 210125 Daily Chart
WTI oil tested new lows as the strong pullback continued. Donald Trump plans to boost energy production in the U.S., which is bearish for oil markets.
In case WTI oil settles below the $75.00 level, it will move towards the support at $73.00 – $73.50.
Brent Oil
Brent Oil 210125 Daily Chart
Brent oil remained under pressure as fears about tight supply eased. Declining geopolitical premium served as an additional bearish catalyst for Brent oil.
A move below the $78.50 level will push Brent oil towards the support level at $77.00 – $77.50.
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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.