Natural Gas
Natural gas retreats after an unsuccessful attempt to settle above the resistance at $2.80 – $2.85.
If natural gas settles below the $2.60 level, it will head towards the nearest support, which is located in the $2.45 – $2.50 range.
WTI Oil
WTI oil tests new lows as the pullback continues. Traders are worried that oil demand is not sufficiently strong to absorb the anticipated increase of production from OPEC+.
RSI is close to the oversold territory, but there is enough room to gain additional downside momentum in case the right catalysts emerge.
Brent Oil
Brent oil tested support at $76.00 – $77.00 as traders remained bearish amid demand worries.
A move below the $76.00 level will open the way to the test of the next support at $72.50 – $73.50.
Natural Gas Price Forecast
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