Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Moves Higher Ahead Of OPEC+ Meeting
By:
Key Points:
- Natural gas is moving higher, supported by colder weather forecasts.
- WTI oil gains ground as traders bet that OPEC+ will decide to raise production by 137,000 bpd.
- Brent oil remains stuck below the $65.00 level.
Natural Gas
Natural gas tests new highs as traders focus on colder weather forecasts and bet on rising demand.
In natural gas settles above the resistance at $4.00 – $4.05, it will move towards the next resistance at $4.25 – $4.30.
WTI Oil
WTI oil gains some ground as traders wait for OPEC+ decision on production. OPEC+ will meet on Sunday. Recent reports indicate that the group will raise production by 137,000 bpd in December.
In case WTI oil climbs above the 50 MA at $61.99, it will head towards the resistance at $66.00 – $66.50.
Brent Oil
Brent oil remains stuck near the support level at $64.50 – $65.00 as traders wait for OPEC+ decision.
If Brent oil pulls back below the $64.00 level, it will move towards the support, which is located near resistance lows at $60.50 – $61.00.
For a look at all of today’s economic events, check out our economic calendar.
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