Natural gas prices climbed towards the $3.75 level.
WTI oil was mostly flat as traders focused on OPEC+ policy.
Brent oil was stuck in the $67.50 - $68.00 range.
Natural Gas
Natural Gas 270625 Daily Chart
Natural gas rallied as traders rushed to close their short positions ahead of the weekend. The current demand for natural gas remains high, which may provide additional support to natural gas markets.
If natural gas stays above the $3.65 level, it will head towards the next resistance level at $3.95 – $4.00.
WTI Oil
WTI Oil 270625 Daily Chart
WTI oil is swinging between gains and losses as the market continues to stabilize after recent volatility.
If WTI oil pulls back below the 50 MA at $63.84, it will head towards the support level at $62.00 – $62.50.
Brent Oil
Brent Oil 270625 Daily Chart
Brent oil remains stuck near the support at $67.50 – $68.00. Recent reports indicate that OPEC+ may further boost its production, but the market showed little reaction to the news.
A move below the 50 MA at $66.57 will open the way to the test of the next support level, which is located in the $63.50 – $64.00 range.
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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.