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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Traders Stay Bullish

By:
Vladimir Zernov
Published: Jun 14, 2024, 18:49 GMT+00:00

Key Points:

  • Natural gas tests new lows as traders focus on rising production.
  • WTI oil made an attempt to settle above the $79.00 level.
  • Brent oil gains some ground ahead of the weekend.
Natural Gas, WTI Oil, Brent Oil Forecasts

In this article:

Natural Gas

Natural Gas
Natural Gas 140624 Daily Chart

Natural gas continues to move lower as traders focus on rising production levels.

A move below the support at $2.80 – $2.85 will push natural gas towards the 50 MA at $2.57.

WTI Oil

WTI Oil
WTI Oil 140624 Daily Chart

WTI oil gains some ground ahead of the weekend. Traders bet that oil demand in the second half of the year could be stronger than previously expected.

From the technical point of view, WTI oil consolidates below the key resistance at $79.00 – $80.00.

Brent Oil

Brent Oil
Brent Oil 140624 Daily Chart

Brent oil is also moving higher as traders bet on the continuation of the rebound from June lows.

In case Brent oil manages to settle above the $83.00 level, it will head towards the resistance at $84.50 – $85.00.

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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