Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Rallies 3% As Traders Shrug Off Recession Worries

Natural Gas

Natural gas continues to rebound amid broad rally in the energy markets. While current demand for natural gas is moderate, it is expected to rise soon due to hot weather.

In case natural gas manages to settle above the resistance at $2.00 – $2.05, it will head towards the next resistance level, which is located in the $2.25 – $2.30 range.

WTI Oil

WTI oil rallies as global financial markets calm down. Traders shrug off recession worries and use the strong pullback as an opportunity to increase their long positions at attractive levels.

If WTI oil manages to settle above the resistance at $75.50 – $76.50, it will move towards the next resistance at $79.00 – $80.00.

Brent Oil

Brent oil has also managed to gain strong upside momentum as risk appetite increased.

RSI is in the moderate territory, so there is plenty of room to gain momentum in the near term. If Brent oil settles above the $78.00 level, it will head towards the resistance at $81.50 – $82.00.

For a look at all of today’s economic events, check out our economic calendar.