Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Lows As Traders Focus On China’s Problems

Natural Gas

Natural gas  continues to move away from recent lows as traders bet on a rebound.

If natural gas stays above the $2.10 level, it will move towards the next resistance at $2.25 – $2.30.

WTI Oil

WTI oil tests new lows as traders stay focused on China despite rising tensions in the Middle East.

If WTI oil stays below the $75.50 level, it will head towards the support at $71.50 – $72.50.

Brent Oil

Brent oil is losing ground as traders worry about weaker demand in China. At the same time, traders do not believe that Middle East tensions will lead to any supply disruptions.

It should be noted that RSI is in the oversold territory, so the risks of a pullback are increasing.

For a look at all of today’s economic events, check out our economic calendar.