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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Tests The $60 Level
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Key Points:
- Natural gas moved away from session highs.
- WTI oil settled near the psychologically important $60.00 level.
- Brent oil gained some ground in choppy trading.
Natural Gas
Natural gas pulled back from session highs as traders focused on warmer weather forecasts.
A move below the $4.25 level will push natural gas towards the support level at $4.00 – $4.25.
WTI Oil
WTI oil is swinging between gains and losses amid oversupply concerns. It should be noted that traders are not ready for big moves and wait for additional catalysts.
From the technical point of view, WTI oil needs to settle back above the resistance at $60.00 – $60.50 to gain additional upside momentum in the near term.
Brent Oil
Brent oil remains stuck below the resistance at $64.50 – $65.00 amid lack of positive catalysts.
If Brent oil pulls back below the $63.00 level, it will head towards the support 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.
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