Natural Gas
Natural gas is losing ground as traders react to the EIA report, which indicated that working gas in storage decreased by -321 Bcf from the previous week.
From the technical point of view, natural gas failed to settle above the resistance at $3.20 – $3.25 and is moving towards the nearest support level at $2.95 – $3.00.
WTI Oil
WTI oil tested new lows as traders remained focused on Donald Trump’s tariff plans, which could hurt demand for oil in the near term.
In case WTI oil declines below the 50 MA at $71.99, it will head towards the strong support level, which is located in the $67.00 – $67.50 range.
Brent Oil
Brent oil rebounded from session lows as some traders were ready to buy the dip after ECB cut rates and signaled that it was ready to provide additional support to the European economy.
Brent oil needs to settle back above the $77.50 level to have a chance to gain sustainable upside momentum in the near term.
Natural Gas Price Forecast
Every new Natural Gas analysis as it publishes, today's technical signal and key levels, live price — on one page.
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