Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Climbed Above The $60.00 Level
By:
Key Points:
- Natural gas tests new highs as traders stay focused on cold weather forecasts.
- WTI oil attempts to settle above the $60.00 level.
- Brent oil tests resistance at $64.50 - $65.00.
Natural Gas
Natural gas rallied as traders reacted to cold weather forecasts. Short-covering provided additional support to prices.
If natural gas settles above the 50 MA at $3.84, it will move towards the nearest resistance at $3.95 – $4.00.
WTI Oil
WTI oil gained ground as traders remained focused on Trump’s tariff threats and weighed the potential impact of a new round of trade war.
In case WTI oil manages to settle above the resistance at $60.00 – $60.50, it will head towards recent highs near the $62.50 level.
Brent Oil
Brent oil is moving higher amid broad rally in the oil markets. Traders do not believe that Greenland dispute will put pressure on demand for oil.
A successful test of the resistance at $64.50 – $65.00 will push Brent oil towards the $67.00 level.
If you’d like to know more about how commodity markets work, please visit our educational area.
About the Author
Vladimir Zernovauthor
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.
Advertisement