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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Pulled Back From Session Highs
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Key Points:
- Natural gas pulled back after the recent rebound.
- WTI oil moved away from session highs amid profit-taking.
- Brent oil moved back towards the $75.00 level.
Natural Gas
Natural gas pulls back after an unsuccessful attempt to settle above the resistance at $2.75 – $2.80.
If natural gas declines below the $2.65 level, it will move towards the nearest support, which is located in the $2.50 – $2.55 range.
WTI Oil
WTI oil moved away from session highs as traders focused on the U.S. presidential election.
A move below the 50 MA at $70.97 will push WTI oil towards the psychologically important $70.00 level.
Brent Oil
Brent oil pulled back as traders took some profits off the table after the recent rebound.
From the technical point of view, Brent oil needs to settle above the resistance at $77.00 – $77.50 to gain additional upside momentum.
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.
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