Natural gas tested new lows amid lack of positive catalysts. From the technical point of view, natural gas is trying to settle below the support at $3.05 – $3.10.
In case this attempt is successful, natural gas will move towards the next support level at $2.70 – $2.75.
WTI Oil
WTI Oil 220425 Daily Chart
WTI oil is mostly flat as traders react to new Iran sanctions. From a big picture point of view, traders remain worried about the consequences of the U.S. – China trade war.
If WTI oil pulls back below the $62.50 level, it will gain additional downside momentum and move towards the $60.00 level.
Brent Oil
Brent Oil 220425 Daily Chart
Brent oil gained some ground but did not manage to settle above the resistance at $67.50.
A move above $67.50 will push Brent oil towards the next resistance, which is located in the $71.00 – $71.50 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.